Hyperliquid (HYPEUSD) Price Recovery Targets $57.98 Supply Mark

Hyperliquid Price Forecast: December 9

It is time to grow again for the Hyperliquid (HYPEUSD) pair as price recovery targets the $57.98 supply mark, provided buyers add more aggression to their buying pressure as bullish pressure resumes.
The crypto has been making remarkable strides over the past few hours, demonstrating investors’ interest in the coin. Consequently, the price may reach the overhead resistance at $59.39, indicating an increase in investor interest, if the coin price can hold above the pattern supply trend line.

Key Levels:
Resistance Levels: $51.00, $52.00, $53.00
Support Levels:     $39.00, $38.00, $37.00

HYPEUSD Long-term Trend: Bearish (Daily chart)

The Hyperliquid price is poised to reach the crucial level as it resumes its upward trend on the higher time frame. The coin price is in green below the moving average, suggesting a bearish momentum.
The negative push to a $28.15 support in the last session has contributed to the coin’s bearishness in its recent uptick.

As of this writing, the bulls pulled back to a high of $30.94 below the EMA-50 on the daily chart, signaling more commitment from purchase traders, while the HYPEUSD price recovery is aiming for the previous peak barrier of $57.98.

Additionally, if buying pressure increases, the coin price recovery may soon aim for the upper boundary of the range and the previous high, targeting the overhead range.

In a similar vein, the price indicator is in an uptrend, at 27%. Given this, the Hyperliquid price recovery target may hit the resistance level of $59.39 shortly.

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

As the bulls start making strong moves in the medium-term vision, the Hyperliquid market price recovery aims to reach the supply level. The coin’s bearishness is confirmed by the fact that its price is below the moving average.
The price has fallen below the supply levels at its most recent peak due to persistent bearish pressure at a $28.15 support in the previous session.

While the bears are losing ground today as the price recovery seeks the resistance level, the bulls are able to push the HYPEUSD price to a $30.52 high below the EMA-50 on the 4-hourly chart, suggesting greater interest among traders.

Therefore, if buying pressure increases further, the price of cryptocurrency may retest the previous high of $41.41, gaining a stronger foundation to rise as the price recovery aims for the higher level.

Furthermore, the daily stochastic continues to rise, suggesting that the bullish trend may persist.

As a result, market participants may witness a new recovery rally, reaching the $45.00 high shortly, as the crypto price recovery targets the upper resistance level of $59.39 in its medium-term time frame.

As the bulls start making strong moves in the medium-term vision, the Hyperliquid market price recovery aims to reach the supply level. The coin’s bearishness is confirmed by the price trending below the moving average.

The price has fallen below the supply levels at its most recent peak due to persistent bearish pressure to a $28.15 support in the previous session.

While the bears are losing ground today as the price recovery targets the resistance level. The bulls pushed the HYPEUSD price to a $30.52 high below the EMA-50 on the 4-hourly chart, showing greater interest among long traders.

Therefore, if buying pressure increases further, the price of cryptocurrency may retest the previous high of $41.41, gaining a stronger foundation to rise higher as the price recovery aims higher.

Furthermore, the daily stochastic continues to rise, suggesting that the bullish trend may persist.

As a result, market participants may witness a new recovery rally, and this may reach the $45.00 high shortly, as the crypto price recovery targets the upper resistance level of $59.39 in the medium-term time frame.

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