Hyperliquid (HYPEUSDT) Price Attempting the Next Uptick Trend

Hyperliquid Price Forecast: December 16

Hyperliquid (HYPEUSDT) price resumes its bullish rally. The coin price is attempting the next uptick trend following the market surge in the last few hours by the bulls. The coin is currently rising; if all support levels hold and resistance breaks out of $51.06 level, we may witness a further shift in price to reach the upper resistance level of $59.39 and beyond, maintaining growth potential for coin owners.

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

HYPEUSDT Long-term Trend: Bearish (Daily chart)

In its long-term perspective, the coin is attempting the next upswing trend and remains bearish, targeting the resistance level. Furthermore, the price is trading below the EMA, suggesting a bearish market zone at the moment.
The bears’ push at $28.81 in the last session has caused the price of cryptocurrency to drop below the supply trend lines lately, but as the new correction resumes, it appears that the bulls are set to regain control.

The HYPEUSDT pair is witnessing a post-rally pullback as it resumes its bullish rally below the moving averages at the $29.56 resistance as the daily chart opens today, shaping the price trajectory towards the resistance level.

However, with persistent buying, the crypto price might surge to surpass its top of $51.06 and open the door for further growth.

Additionally, the daily stochastic suggests an uptrend at the oversold region of the daily stochastic.

Given this, the emergence of buyers is imminent and could drive the Hyperliquid price to an upper resistance level of $59.00 in the days ahead.

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

In the medium-term view, the Hyperliquid market is pessimistic and trying to find the next upward trend. The fact that the prices are trading below the EMA-50 makes this evident.
The coin has been in a bearish trend lately due to the persistent bearish pressure around the $28.81 support level throughout yesterday’s session.

As it resumes its bullish climb and reaches the $29.17 supply value below the EMA-50, indicating buyers’ return as the HYPEUSDT price anticipates further growth.

The market is reacting to this pattern, and if it breaks out, the token price may reach its peak of $36.40, providing coin traders with a favorable entry point.

Notably, the market is currently trending upward on the daily stochastic, indicating that the coin market value will continue the uptick trend, exposing the crypto price to a $59.00 supply value in the next days.

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