Hyperliquid (HYPEUSDT) Price Holds above the Supply Levels

Hyperliquid Price Forecast: January 1

As the New Year begins today, the Hyperliquid price remains above the supply levels at $25.97, indicating that the bulls are much stronger. The coin price continues to climb steadily amid the ongoing cryptocurrency rally. However, the coin may experience a quick turnaround soon if the bulls could sweep the bearish forces under the rug by pushing higher. The cryptocurrency value has been carving a path of resilience, supported by steady inflows and consistent accumulation. Hence, its current resistance may swing to a prior peak supply of $30.82, which could extend to an upper resistance level of $40.00, if additional strength is added to the bulls’ trend.

Key Levels:
Resistance Levels: $28.00, $29.00, $30.00
Support Levels:    $22.00, $21.00, $20.00

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

Even at the drop-downs in the crypto market, the Hyperliquid price holds above the supply levels and remains bullish on the higher time frame.

The crypto’s price can be seen above the moving average, suggesting a bullish trend.

The bulls’ action to $25.80 in the last session has enabled the coin price to maintain an upward trend lately.

At the time of writing, the HYPEUSDT pair was propelled higher by the bulls until it reached a new high of $25.97 above the EMA-50 on the 4-hourly chart, suggesting the level and the high impact of buy investors on the crypto market.

The crypto price action is edging close to the overhead; therefore, sustainability above the $30.82 previous high would render any intended bearish move invalid

Additionally, as the price continues to surge on the daily indicator, the essential growth might increase the token price to the $40.00 upper resistance point in its long-term forecast if the bulls push harder.

HYPEUSDT Short-term Trend: Bullish (1H chart)

Due to large inflows from long traders, the Hyperliquid market exhibits a bullish posture and slight expansion in its short-term perspective.
The high bullish momentum at $25.68 supply value in the previous action has enabled the cryptocurrency price to show necessary growth above the supply trend levels in its most recent high.

At the time of writing, HYPEUSDT value trades at around $25.97, slightly above the EMA-50, indicating its strength in upward movement.

From a technical perspective, the Hyperliquid market may continue its upward voyage, which could push the token price to a short-term upper resistance of $26.38 and extend to $30.00, creating an opportunity zone for coin buyers.

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