Hyperliquid (HYPE) price has been on a roll over the past few weeks, emerging as one of the most profitable tokens in the crypto space.
The DeFi token has achieved its second all-time high within a week, boosting this month’s gains to 36%. HYPE is now approaching entry into the top 10 crypto tokens by market cap.
Hyperliquid Investors Need To Act Strong
Over the past few days, HYPE’s Chaikin Money Flow (CMF) has seen a strong inflow of capital, signaling a shift in investor sentiment. After a period of outflows that had driven the CMF to a two-month low, the recent inflow marks a rebound in confidence.
This surge follows the all-time high (ATH) formed earlier this week, as investors appear to be buying back into the token. The return of strong inflows is a clear indication that investors are regaining confidence in the asset. This shift could provide HYPE the necessary momentum for further upward price movement.
Analyzing the broader macro momentum of HYPE, the liquidation map reveals that most traders are betting on a price increase. A drop to $36.20, which would break the $40.14 support level, could trigger up to $3.15 million in long liquidations.
Despite this potential risk, the low number of short positions suggests that there is limited downside pressure. With fewer short contracts in place, the market sentiment will have less of an influence on the price, allowing HYPE to maintain its bullish momentum.
HYPE Price Continues To Climb
HYPE is currently trading at $44.61, following a new all-time high (ATH) of $44.79 during today’s intra-day session. This marks an impressive 11.7% rise in the last 24 hours.
The altcoin’s price action indicates strong bullish sentiment, attracting attention from traders looking for continued gains in the market.
After reaching its ATH, HYPE experienced a slight dip but managed to maintain support at $40.14. This bounce suggests strong demand and resilience in the market. With a 36% rise this month, HYPE could continue its upward trend, with the next target being $50.00, which is 11.6% above the current price.
If investor sentiment turns bearish and selling pressure increases, HYPE could fall back to the $40.14 support level. A break below this critical support would signal the invalidation of the bullish outlook, potentially leading to losses for investors.
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