HYPE Rises but Faces the $88 Resistance

KEY TAKEAWAYS

•     HYPE remains bullish above the $75 support level, with buyers maintaining upward momentum despite the recent rejection near the $88 resistance zone.

•     A decisive break above $88 could signal a resumption of the bullish trend and open the way toward the $110 target.

•    In the short term, HYPE may continue moving sideways because the 4-hour chart is caught between its moving averages and Doji candles are limiting price movement.

Hyperliquid Price Long-Term Analysis: Bullish

The Hyperliquid (HYPE) price halts its bullish ascent as it faces the $88 resistance . The crypto asset was repelled at the $88 resistance zone. Following the repulsion, the crypto asset is now trading above the $76 support but below the $88 high.

Buyers have maintained their bullish ascent above the $75 support, which was the previous resistance level. The altcoin has the chance of a further upward move if the current support holds. HYPE will rise to retest the $88 resistance zone.

A break above the $88 resistance zone will signal the resumption of the bullish trend. HYPE will rise to the high of $110. Conversely, the crypto asset risks a decline if the $75 support is breached. Meanwhile, the altcoin is now trading above the $75 support and below the $88 barrier. The altcoin is worth $81.35 as of today.

Technical Indicators:

Hyperliquid Indicator Analysis

The crypto price is well above the horizontal moving average lines. The 21-day SMA has broken above the 50-day SMA, indicating a bullish trend. On the 4-hour chart,the crypto price has been caught between the moving average lines. The crypto price will rise when either the 21- day SMA barrier or the 50-day SMA support is breached. Presently, the price movement has remained stationary as the Doji candlesticks form.

What Is the Next Direction for Hyperliquid (HYPE)?

HYPE price is caught between the moving average lines as it faces the $88 resistance . The crypto price is now trading in a narrow range between the moving average lines. On the upside, if the price breaks above the 21-day SMA barrier, it will further face another barrier at $85.

In the meantime, the altcoin will continue its sideways move for a few more days. Presently, it is caught between the moving average lines. The formation of Doji candlesticks will further limit the price movement.