Crypto Market Review: Hyperliquid Chases $100 Target Amid XRP Support Test
Hyperliquid's recent price action has been marked by a strong rally, with the asset reaching a new local high after trading below $60 in mid-August. However, to reach its psychological target of $100, Hyperliquid would need another large wave of buying pressure.
The daily chart shows that HYPE trades comfortably above major trend indicators, including the 50-day and 100-day moving averages, which are at roughly $63.21 and $61.97 respectively. The 20-day EMA has accelerated to about $71.67, while the 200-day moving average is much lower at $54.66.
The first barrier for HYPE reaching $100 is the $85-$87 area, where selling pressure has already been applied, resulting in multiple upper wicks and delaying the most recent breakout. A daily close above $87 would leave $90 as the next psychological barrier.