New Heights for Hyperliquid Price: What to Expect in the Coming Weeks
Ever since its inception, the Hyperliquid price has shown remarkable resilience, even in the face of bearish market conditions. The recent introduction of new staking tiers has added value to the token, offering traders discounts on trading fees and increased utility. The anticipation surrounding the upcoming launch of the new staking tier system, set to go live after April 30, has fueled a surge in the HYPE price, rebounding from recent lows of around $12.34.
The influx of over $15 million in HYPE accumulation has further bolstered bullish momentum, highlighting the potential demand for the token. However, recent revelations by ZackXBT have uncovered a ‘fake whale’ allegedly identified as William Parker, a figure with a history of financial crimes. Parker is said to have amassed $20 million in HYPE through high-stakes leveraged trading, with funds linked to a phishing scam.
Despite these revelations, the Hyperliquid price continues to display strong bullish behavior, with significant upward movement suggesting growing bullish strength.
Short-term price action for Hyperliquid indicates incremental growth within a rising parallel channel. Increasing buying volume and a bullish MACD signal rising buying pressure, with the price holding above the 50-day MA, showcasing growing confidence in the token. To sustain this momentum, HYPE must breach key resistance levels to break free from bearish pressure.
Currently, the Hyperliquid price is testing the resistance zone between $15.96 and $16.15, with a potential hurdle at $16.75. Breaking through these levels could pave the way for a push towards $18, the 200-day MA in the short term. Overcoming these resistances during the weekend could see prices soar to $20.
With a continued upward trend expected, there is potential for significant growth by the end of Q1 2025. Stay tuned for more updates on Hyperliquid’s price trajectory.