HYPE TO $60? Hyperliquid’s Bold Move Sparks Short Squeeze Frenzy – Will It Hit 60?

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Hyperliquid (<a href="https://jpyeur.com/hype-usd/">HYPE</a>) Price Prediction: HYPE Holds Strong Above Key Support While Traders Watch $60 Target

The token’s price has recently been between $47 and $52, bouncing back from some quick ups and downs. Even with general uncertainty in the crypto market, it’s still trending upwards. Experts believe whether the price can stay above certain key levels will be crucial in predicting where it goes next.

HYPE’s Price Holds Firm as Traders Monitor Key Resistance

HYPE’s price has recently found stability around the $45 to $47 range. This area is considered a key support level by many traders, as it was where the price recently broke through resistance.

Crypto analyst AltcoinSherpa believes Hyperliquid’s token (HYPE) might be poised for another price increase, potentially reaching $60. He noted this upward trend is happening even as the overall crypto market remains uncertain.

Sherpa pointed out that while the current price might not be great for quick trades, it looks better for those planning to hold HYPE for a longer period. The analyst also believes HYPE is holding up well compared to many other cryptocurrencies.

HYPE was trading around $50 at the time of this report, up about 4% for the day, but still below its recent high of nearly $59.

Technical Analysis: HYPE Maintains Bullish Structure Despite Near-Term Resistance

HYPE is still looking positive from a technical standpoint, despite some temporary issues with data on certain exchanges. Overall, the market suggests a cautiously optimistic trend, backed up by price movements, momentum, and how traders are positioning themselves.

Looking at the charts, HYPE is consistently trading above its key moving averages, both in the short and medium term. This confirms the pattern we’re seeing – each new high is higher than the last, and each low is also higher – which is a strong signal of continued upward momentum. Essentially, it looks like buyers are stepping in to protect key support levels, suggesting the bullish trend is likely to continue.

Technical indicators suggest HYPE could continue to rise, but aren’t showing signs of an unsustainable surge. The Relative Strength Index, a measure of buying pressure, has remained between 50 and 65, indicating consistent demand without reaching levels typically associated with overbought conditions (above 70). This implies HYPE has potential for further growth before its upward momentum slows down.

Recent market analysis suggests a positive trend, as the MACD is showing increasing bullish momentum with stronger signals. Additionally, indicators like the ADX confirm that recent price increases are backed by growing strength and conviction.

Traders are keeping a close eye on the $45–$47 support level. This area previously acted as resistance, then became support, and suggests strong buying interest. If the price stays above this level, it supports the idea that the overall upward trend will continue. However, if the price falls below $45–$47, it could lead to a short-term drop toward around $42.

The price faces initial resistance between $50 and $52. If the price can break above this range with strong trading volume, it could potentially climb back to its previous high of around $59. If it surpasses that level, traders will likely look for further price increases and a sustained upward trend.

Short Squeeze Narrative Gains Attention

Recently, crypto analyst StrongHedge noticed some potentially concerning signals for short sellers. They observed that funding rates for HYPE perpetual contracts were significantly negative, open interest was increasing, and large investors (whales) were actively hedging their positions, suggesting short sellers might be at risk.

StrongHedge reports that traders who are betting the price of HYPE will fall are facing high costs to maintain their positions. At the same time, most trading activity still involves bets that the price will rise. This situation could lead to a ‘short squeeze,’ where a sudden price increase forces those betting against HYPE to buy back their positions, further driving up the price.

Recent data suggests a decrease in short liquidations and funding rates are slowly returning to normal.

However, experts warn that these improvements don’t ensure continued success, because the market for these financial tools can change rapidly.

Resistance Near All-Time High Remains a Critical Test

Analysts at AltCryptoGems have observed that HYPE continues to approach its resistance level without significant setbacks, and buyers are still driving the price up after a sustained period of increasing highs and lows.

Some technical analysts suggest the token might be reaching a price range between $46 and $49 where rapid price swings are more likely, potentially creating short-term challenges for traders who follow momentum.

According to recent market analysis, this region might be experiencing a situation where demand is very high but doesn’t lead to price increases. While the overall long-term trend is still upward, some indicators suggest the market could pull back slightly before continuing to rise. These indicators include high Relative Strength Index (RSI) levels and weakening short-term momentum.

HYPE might still be generally rising in value, but its price could fluctuate significantly as it nears key historical levels.

Hyperliquid Price Prediction: Can HYPE Reach $60?

For now, market sentiment surrounding Hyperliquid’s price prediction remains cautiously optimistic.

If HYPE stays above the $45 support level with continued trading volume, experts suggest it could potentially reach $60 soon. Breaking through the $50-$52 range would likely increase the chances of it hitting its previous highest price.

Traders are still keeping a close eye on the overall cryptocurrency market – things like Bitcoin’s price movement, how much trading is happening, and general market feelings – because these factors often affect how altcoins perform.

As usual, technical indicators aren’t foolproof. When trading in the often unpredictable digital asset markets, investors typically look at price movements, what’s happening on the blockchain, and their own risk tolerance before deciding to buy or sell.

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2026-05-20 22:23