The Hyperliquid price is trading around $57.80 after rebounding nearly 5% from a key demand zone near $55. The token came under pressure after being rejected at the $72 resistance level, but buyers quickly stepped in to halt the decline and spark a recovery. With HYPE now attempting to build on this rebound, all eyes are on whether the renewed buying momentum can drive a move toward the next resistance level. Can the bulls sustain the recovery and reclaim higher ground?
HYPE Finds Strong Support as Buyers Defend Key Order Block
The daily chart shows HYPE rebounding after entering a key bullish order block around $55, an area where institutional buying interest has previously emerged. The sharp reaction from this demand zone suggests whales continue to defend the range, preventing sellers from extending the recent correction. As long as the price holds above this support, the broader bullish structure remains intact despite the pullback from the $72 resistance.
Momentum indicators also hint at a potential shift in sentiment. The MACD remains below the zero line, but the MACD line is curling higher and approaching a bullish crossover with the signal line, indicating that bearish momentum may be fading. A confirmed crossover would strengthen the recovery narrative and increase the probability of another move toward the $64 resistance, followed by a retest of the $72 swing high.
For now, the $55 order block remains the key level to watch. A sustained hold above this zone could encourage buyers to regain control, while a breakdown below it may expose the next major support around $47.
The Bottom Line
Overall, Hyperliquid’s technical outlook remains cautiously bullish as buyers continue to defend a key demand zone and momentum shows signs of improving. However, confirmation is still needed in the form of a sustained breakout above nearby resistance. Until that happens, traders should closely monitor HYPE price action around the current support zone.
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