Hyperliquid Price Forecast: January 8
The Hyperliquid (HYPEUSDT) pair, having completed the downward correction, is now rising and could continue to increase as the coin slowly recovers, offering significant potential for gains. If the current support at $26.47 holds and the price on the 4-hourly chart closes above the $28.37 supply level, there is a good chance that the coin price will rise to its most recent swing high at $29.49,
offering an opportunity for investors to make significant returns.
Key Levels:
Resistance Levels: $27.00, $28.00, $29.00
Support Levels: $23.00, $22.00, $21.00
HYPEUSDT Long-term Trend: Bullish (4H chart)
The Hyperliquid market initiates another uptrend as it reclaims the position above the $25.00 level in its long-term perspective. The coin price is above the resistance, confirming a bullish trend.
The market price of HYPEUSDT has just broken the EMA-50 at $26.87 level as the 4-hourly chart resumes, suggesting that the token price will increase as it approaches the overhead resistance.
Hence, the market looks to extend its gains. Thus, a strong breakout above the $28.29 peak resistance point would strengthen the bullish pressure.
Additionally, the Hyperliquid price shows upward momentum on the daily signal, suggesting that the pair will rise and may reach the $30.00 upper resistance trend level in the next days as it continues to rise on the higher time view.
HYPEUSDT Short-term Trend: Bearish (1H chart)
The price is trending below the supply level, confirming a bearish momentum.
The sustained pressure of short-term traders at $26.69 in the last session has contributed to its bearishness in its recent correction.
Due to price rejection at this level, there was an immediate reversal. The Hyperliquid price increased more to a $26.80 supply level as the 1-hourly session opens today, indicating investors’ interest and commitment to the coin investment.
The cryptocurrency is witnessing a post-retest rally; if the bullish correction breaks above the EMA-50, buyers could strengthen their grip on this asset, reaching the $28.37 previous high point, indicating an entry point for coin traders.
Notably, the momentum indicator points upwards, suggesting the HYPEUSDT price will surge as the journey northwards continues. Hence, the upper resistance level of $30.00 may be a target in the coming days in its lower time forecast.
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