Hyperliquid’s HYPE jumps 70% to $48—RSI cools; $44 caps upside
Hyperliquid’s token HYPE surged nearly 70%, rising from about $25 to $48 as broader markets were hit by geopolitical tensions. After the rally, HYPE pulled back toward ~$20 over the last five days, showing a short-term correction.
On technicals, the RSI moved toward oversold territory, suggesting seller pressure is fading and momentum is cooling. This often precedes stabilization, but it does not guarantee an immediate breakout.
Derivatives data points to strong participation. Open interest (OI) jumped to roughly $3.1B within 24 hours, implying fresh capital entering the HYPE market after the rally. Analysts referenced possible capital rotation from commodity-linked risk (e.g., oil) into crypto during periods of geopolitical stress.
For traders watching levels, $44 is highlighted as the key hurdle. The article notes $44 rejected prior advances on the daily chart. A successful reclaim could restart a bullish leg, while failure to regain strength may prolong the correction.
Key figures: HYPE +~70% to $48; pullback near $20; RSI toward oversold; OI to ~$3.1B; recovery/bullish pivot near $44.
Bullish
The news is broadly bullish for HYPE in the near term despite the pullback. The article frames the move as a rally (~+70% to $48) followed by a momentum reset: RSI drifting toward oversold suggests sellers are tiring, which often supports a rebound rather than a full trend break. Most importantly, open interest jumped to ~$3.1B, signaling new positioning and sustained trader participation—typically a prerequisite for continuation moves.
However, the bullish case is conditional. $44 is cited as a major resistance level that previously rejected attempts. If HYPE reclaims $44, the combination of cooling RSI and rising OI could trigger continuation toward higher levels (short-term). If price fails at $44, elevated OI could still translate into volatility and liquidations, extending the correction (short-term bearish risk).
In similar post-rally “cooling” phases seen across liquid crypto perps, traders often wait for key level confirmation while monitoring OI changes: rising OI with stabilizing RSI frequently precedes another leg up; rising OI with RSI deteriorating typically signals distribution. Here, the RSI is turning oversold while OI rises, so the balance tilts positive—yet traders should respect the $44 wall as the trigger for the next move.