Hyperliquid (HYPEUSD) Price Retesting the $39.58 Supply Level

Hyperliquid Price Forecast: May 29

Hyperliquid buyers are working to move the crypto price forward. The coin price retesting the $39.58 supply value is crucial as the market price is on its way to the upper resistance zone. Therefore, if the bulls could trigger their forces in the market, price action may surge to reach the $40.00 upper resistance level and beyond, fueling optimism for a significant increase.

Key Levels:
Resistance Levels: $36.00, $37.00, $38.00
Support Levels: $23.00, $22.00, $21.00

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

The HYPEUSD pair retesting the peak value is crucial as it proceeds higher and recovers slightly over the past few hours, leaving the price to trade above the supply levels in its higher time frame.
The price is trading in a bullish momentum and appears favorable for the buy trader, indicating a bullish trend and a buy signal.

Pressure from the bulls at the $37.87 supply in the last session has sustained the coin price above the supply trend.

As a result of price rejection today, buyers pushed the price of Hyperliquid higher to a $36.09 mark above the moving average line, as the 4-hourly chart opens.

Thus, the crypto price retesting the $39.58 is crucial if the buying pressure persists.

Notably, the momentum indicator pointing upwards suggests the continuation of the bullish trend. As a result, the HYPEUSD price may swing to retest the previous high of $39.58 and extend to the $40.00 upper resistance value in the coming days in its long-term outlook.

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

The market price of HYPEUSD is currently trading in the bearish market zone due to inflows from sell traders.
The price of the cryptocurrency has fallen below the supply trend lines as a result of bears’ pressure, which brought it to a low of $35.63 in the last few hours. Still, it now appears like the price will rise further as it begins its bullish correction, retesting the previous high to drive the coin market upward.

The Hyperliquid price responded to the shift in the market structure. The price rebounded to a $36.08 resistance mark as it began its bullish correction below the moving averages shortly after the 1-hour chart opened today.

However, the price may retest the $39.91 level soon as the bulls have just resumed their rising pattern, sparking investors’ interest and rapid growth.

Next, the momentum indicator pointing upwards suggests the possibility of the HYPEUSD price retesting the $39.91 level soon and further extending to the $40.00 upper resistance value in the coming days in its medium-term view.

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