Hyperliquid's native token HYPE is showing signs of a potential trend reversal as buyers have returned to push the price above the $30 level. According to technical analysis, HYPE recently found strong support at $26, which triggered renewed buying interest that propelled the token past $30. The next critical resistance level to watch is $36, which could be tested if buyers maintain their current momentum.
Technical indicators are turning bullish, with the 3-day MACD displaying a positive histogram and the RSI moving above the 50 level, suggesting bulls are gaining control of the price action. Momentum indicators show a clear shift in market sentiment, with sustained buy pressure evident in increasing daily buy volume over the past week.
Despite a recent slowdown after HYPE reached a local high of $32.73, the token continues to trade near $31, having surged from the $27 region. The price structure remains above key Fibonacci levels, with HYPE defending the $30.60 support zone. Open interest has reset near $1.31 billion, which reduces excess leverage risk in the market and could provide a healthier foundation for further upside movement.
Long-term sentiment remains positive, with prominent figures like Arthur Hayes targeting $150 for HYPE despite the short-term cooling period. Market participants are now watching whether buyers can defend near-term support levels or if a deeper retracement will unfold before the next leg up.
