Hyperliquid, HYPE Hits EMA Support At $30 — Rally Paused After 326% Surge

The post Hyperliquid, HYPE Hits EMA Support At $30 — Rally Paused After 326% Surge appeared first on Coinpedia Fintech News Hyperliquid (HYPE) saw a 326% rally from early April lows to a peak of $39.93 on May 26. While the macro trend remains bullish, short-term indicators suggest fading momentum. Price action is now centered around the $30–$35 zone — a key support battleground for bulls. Key Highlights HYPE gained 326% since April, reaching an ATH of $39.93 before cooling to $34.74. Open interest broke above $10.1B, signaling intense leverage participation. TVL rose from $268.9M in early April to over $500M by May 29. Momentum remains bullish, but RSI and MACD suggest exhaustion near $35.50 resistance. Why HYPE Hit ATH — And Why It’s Cooling Now TradingView News stated that Hyperliquid’s rise to $39.93 was driven by institutional activity and increasing engagement. As a top DeFi platform for perpetual trading, the platform’s weekly volume reached $78.67B (May 11–18), with a record $17.73B on May 21. High-profile trader James Wynn’s billion-dollar positions brought attention, pushing open interest past $10.1B, confirmed by Blocmates. The platform also generated $5.6M in daily fees, showing heavy trading demand. This surge in on-chain activity reflects a wider shift as traders increasingly favour decentralized venues offering deep liquidity, transparent execution, and non-custodial control over assets. However, RSI and MACD now signal a cooldown, suggesting consolidation unless bulls reclaim resistance. Hyperliquid Surpasses SUI in Market Cap. Between May 25–26 , HYPE’s market cap peaked at $13.04B , overtaking SUI Coin $12.27B . The rally was backed by over $460M in daily volume , pushing HYPE into the top 12 crypto assets by market cap. As of May 29, HYPE trades at $34.74 with a market cap of $11.46B , still ahead of SUI’s $12.03B, but with momentum clearly cooling. HYPE/USD Ichimoku Cloud Analysis: Bulls Hold the Line — For Now HYPE Chart The daily Ichimoku Cloud shows a bullish structure, with price above the Kumo. Tenkan-sen ($33.0) is under pressure, with Kijun-sen ($31.3) below. A break under the 20 EMA ($30.41) could shift short-term momentum. Additional support sits at the 100 EMA ($27.38) and 50 EMA ($25.08). While the stack is still bullish, it shows vulnerability. Momentum Indicators: Cooling, But Not Reversing Hype RSI RSI (14) : Down from 73.30 to 66.94 — still bullish, but no longer in overbought territory. MACD : Still above signal line, but histogram has begun to fade — a sign of slowing momentum. Hype BB Trend BBTrend : Flattening near 25.15 from 38.863 , indicating the breakout momentum is cooling. BBP (Bulls Bears Power) : Reading at 3.038 down from 13.972 during ATH and declining, suggesting waning buy pressure. Momentum remains positive but shows signs of exhaustion. A decisive break below $30.41 would mark a short-term sentiment shift. HYPE TVL Hits 2-Month High, Reinforcing Fundamentals HYPE TVL DeFiLlama data shows TVL rising from $268.9M (April 1) to over $500M by May 29. This increase suggests continued long-term investor confidence. Protocol Strength: Revenue & Fee Dominance Back the Rally HYPE Revenue Over the past 12 months, Hyperliquid generated $773.2M in revenue with a market cap of $11.4B — outperforming peers like Raydium and Aerodrome. Despite a 14.8x MC/Revenue ratio, its growth justifies the premium. In the last 24 hours, Hyperliquid led all blockchains in fee generation, with $3.1M in protocol fees, according to Artemis. These metrics highlight strong usage and a sustainable growth model. HYPE Price Levels to Watch Support levels: $33.00 (Tenkan-sen), $30.41 (20 EMA), $27.38 (100 EMA). Resistance levels: $35.50 (minor ceiling), $39.93 (ATH), $42.00 (target). HYPE Price Prediction: Can Bulls Reclaim $39.93? Hyperliquid remains in a strong uptrend despite recent cooling, supported by high open interest and robust trading activity. The recent pullback appears healthy within the broader parabolic structure. Short-Term Forecast (May 29 – June 5): Possible short-term pullbacks to $30.41–$31.30. Holding above $30 would preserve the current bullish arc. A breakout above $35.50 could send HYPE toward $39.93. Mid-Term Outlook (June 5 – June 14): If $39.93 breaks with volume, the next resistance lies at $42.00. Continued strength above $42 may target $46–$48. The bullish structure remains valid as long as $30 holds. Failure below this could lead to a deeper correction toward $27.38. Traders should monitor volume confirmation, RSI trends, and MACD signals to validate directional momentum.

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