Hyperliquid (HYPEUSD) Could See More Growth

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Hyperliquid Price Forecast: August 7

The Hyperliquid (HYPEUSD) market could see more growth as the bulls begin a new upward trend that could breach important resistance levels. A bullish breakout that closes above the $46.28 supply level will signal that buyers are more optimistic and the coin price will continue to rise, thereby having a stronger foundation to extend this recovery. Hence, a post-retest rally could push prices higher and reach the upper resistance level of $47.00, demonstrating remarkable resilience in a correcting market.

Key Levels:
Resistance Levels: $44.00, $45.00, $46.00
Support Levels:   $41.00, $40.00, $39.00

HYPEUSD Long-term Trend: Bearish (4H chart)

The Hyperliquid pair is attempting an upward rally and may see more growth as it resumes its bullish trend. It targets the resistance level on its higher time frame. The price is below the EMA-50, which shows a bearish market zone.
The bears’ push caused the cryptocurrency price to drop below the supply trend line to a low of $37.07 in the last session, but as the new correction begins, the bulls are ready to take over.

The bulls’ ascent to a high of $37.43 below the EMA-50, followed by a reversal after the 4-hourly chart begins today, confirms the return of long traders to the market.

Thus, the price of HYPEUSD could see further growth as the bulls anticipate an increase if they can redouble their efforts and push above the current supply level.

Furthermore, the coin price may rise further to retest the previous high of $46.28 if the bulls can trigger their forces in the market.

In conclusion, the Hyperliquid pair is on the verge of more growth as the market remains upward on the daily stochastic, suggesting that selling pressure is not likely.

As a result, the bullish corrective pattern may extend to the $47.00 high mark in the days ahead in its long-term perspective.

HYPEUSD Medium-term Trend: Bearish (1H chart)

HYPEUSD is displaying a declining trend on the medium-term chart and yet poised for growth. This is clear as the new correction phase begins below the supply levels.
The price of Hyperliquid could increase further as it rebounded to a $37.43 high mark below the EMA-50, shortly after the commencement of today’s 1-hour chart, suggesting the returns of buy traders to command the price actions.

Thus, if there is a fresh spike in buyer interest and the coin price closes above the $39.84 barrier level, the post-retest rise may spike to a critical level at the upper resistance level, signifying a significant correction among coin investors.

Additionally, as the price shows an upward trend on the daily stochastic, the HYPEUSD pair seems poised for further gains.

Given this, the emergence of buyers is essential at this time to push the coin price in the direction of the $44.70 resistance level in the next days, as it is expected to continue growing.

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