Hyperliquid (HYPEUSD) Presents Strong Resistance Level at $26.83Mark

Hyperliquid Price Forecast: February 6

Hyperliquid (HYPEUSD) forms a bullish flag pattern and also presents a strong resistance level at the $26.83 mark with huge volumes from the bulls. The coin has been relatively stable in the past few days. Hence, a daily candlestick above the mentioned supply level would invalidate any bearish theory. As a result, if buyers can put more effort into their market tension, the trend will shift upward to the $28.00 high value, resulting in an intraday gain and a potential buy signal for the coin holders.

Key Levels:
Resistance Levels: $25.00, $26.00, $27.00
Support Levels: $20.00, $19.00, $18.00

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

On higher time frames, HYPEUSD price is trending up and also presents a strong resistance level as prices are trading above the EMA-50, suggesting a bullish trend due to the significant impact of buy investors. The bulls’ high order flow in the last session has contributed to its bullishness.
Today’s 4-hour chart, shows a broader recovery in prices, as the Hyperliquid pair presents strong resistance at $26.83 value above the moving average as at the time of writing this article.

As a result, staying close to the upper resistance level above the EMA-50 indicates a high likelihood of a bullish correction. Thus, a strong breakup above the $28.17 peak barrier level would amplify the bullish pressure.

Meanwhile, the market price of Hyperliquid is pointing up on the daily stochastic, implying that the bulls may continue trending up.

In light of this, the expected upside in the coin price could be high at $30.00 in the coming days as the token presents a strong resistance level in its long-term outlook.

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

The coin price presents a strong resistance level and remains strong in a bullish market in its medium-term outlook. Furthermore, the Hyperliquid pair is trading close to upper resistance levels above the 50-day moving average, indicating an uptrend.
The sustained bullish pressure to a $25.23 high level in the previous action has led to the coin’s strong resistance in its recent high.

As the 1-hour chart resumes today, the HYPEUSD price presents strong resistance at $26.83 above the EMA-50, encouraging the buy traders to invest in the crypto, as possible future gains are certain.

Further increase in the buying pressure might lead the crypto price to hit the $28.36 previous high level, as it continues to show signs of revitalization.

In conclusion, the bullish correction at the mentioned resistance level is an indication that the bulls are planning to strongly move the price of Hyperliquid to a high level at the upsides, and the $30.00 upper high mark might be the target also in the future in its medium-term.

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