MACD crossover hints at new rally

Hyperliquid flashes a bullish MACD crossover near $33 resistance, setting up a potential breakout as traders weigh momentum against looming token unlock risks.

Hyperliquid (HYPE) is trading at $32.63 at press time, up 1.5% in the past 24 hours and hovering near the top of its weekly range between $26.22 and $33.33.

Despite the broader market downturn, HYPE has held up well. The token is up 16% over the past week and nearly 100% over the past year. It still trades about 44% below its September 2025 all-time high of $59.30.

According to CoinGlass data, derivatives volume fell 15% to $1.48 billion, while open interest edged up 1.2% to $1.29 billion, suggesting traders are cautiously adding exposure.

MACD crossover shifts short-term momentum

The daily chart shows a fresh bullish signal. The MACD line has crossed above the signal line for the first time in several sessions, and the histogram has turned positive. Momentum is building, though confirmation is still needed.

Price remains above the mid-Bollinger Band, which aligns with the 20-day moving average. The bands are starting to widen after a period of compression. When volatility expands alongside a bullish crossover, follow-through often occurs.

RSI has climbed back above 50 and continues to trend higher without entering overbought territory. Buyers appear to be regaining control, and there is still room for upside if momentum holds.

Structurally, HYPE is forming higher lows after its late-February dip. Price is now pressing against the $33–$34 resistance zone.

Hyperliquid price short-term outlook

Near-term expectations are split. If HYPE consolidates above $30, analysts see room for a push toward $35 and possibly $38–$40 later in March, especially if overall market sentiment improves.

Failure to maintain the $27–$30 support range could expose $22–$23, and if selling picks up speed, there is a greater risk toward $18–$21. The broader pattern of lower highs has not been fully invalidated.

Fundamentally, new activity may be sparked by the impending HIP-4 upgrade, which adds outcome trading features. Tokenomics are still promising, with daily buybacks and aggressive fee burns reducing the amount in circulation.

That said, a scheduled 9.92 million token unlock on March 6 may add short-term pressure, especially if broader crypto markets weaken.

For now, the MACD crossover has tilted short-term momentum upward. A clean break above $34 would strengthen the bullish case, while a rejection there could keep price locked in a volatile range.