Hyperliquid (HYPEUSD) Will Soar Higher

Hyperliquid Price Forecast: May 20

Hyperliquid (HYPEUSD) is preparing to soar higher as the coin is already in the oversold segment. The selling pressure is about to end, and the coin price could be ready for an upward movement soon. If the buy investors could prove stronger and the price shows sustainability above the $27.20 resistance value, its upside could extend further to retest its previous high of $28.22, footing the potential for a sustainable upsurge.

Key Levels:
Resistance Levels: $25.00, $26.00, $27.00
Support Levels: $18.00, $17.00, $16.00

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

In the long-term view, the Hyperliquid pair is witnessing a price drop. Meanwhile, the market value will soar higher sooner as it is oversold and the price remains below the supply level, suggesting a bearish trend.
The sustained bearish pressure at the $25.99 support value in the last session has made the crypto’s price remain below the supply trend levels in its recent low.

Earlier today, the sellers’ inflow dropped the price of HYPEUSD to a $25.11 low level below the EMA-50 as the 4-hourly chart opens.

However, price reversal at the mentioned current support level is more likely; traders can buy the crypto at a low price with this current trend and move the coin market value upwards.

Thus, the price of Hyperliquid will soar higher and advance further to reach the $27.20 prior high mark, if the bulls could increase their forces in the market and exchange hands with the bears at the $25.11 support level.

Notably, more upside is likely as the market is oversold already. As a result, the HYPEUSD pair may turn positive or soar higher to a $28.22 upper high level in the days ahead in its higher time frame.

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

The HYPEUSD pair also trades in a bearish trend market in the medium-term outlook, due to the high impact from the short-term traders on the price flow.
Meanwhile, the coin price will soar higher soon as the selling pressure seems to be exhausted.

The sell traders made a downward move to the $26.21 support level before the end of yesterday’s session. This gave sellers more strength to drop the crypto price below the supply trend lines in its recent low.

Actions from the sell traders dropped the price of Hyperliquid to a low at $25.11 below the moving average shortly after the 1-hour chart opened today.

Meanwhile, the coin will soar higher soon, and a further rise in the market price of the HYPEUSD is possible, as the selling pressure is about to end.

The cryptocurrency is now trading in the oversold region, suggesting that the price might reverse at the current support level. Its upside may soar higher to hit the $28.15 supply level soon in its medium-term time frame.

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