HYPE Price Faces Crucial Support Test Amid Bullish Momentum

The price of Hyperliquid's HYPE has been showing positive momentum, despite a short-term correction risk. At the time of writing, HYPE is trading at $57.88 with a 24-hour trading volume of $320.77 million and a market capitalization of $14.62 billion.

A key support zone could determine the next major move for HYPE. According to crypto analyst Wick, the current trend has reached a local peak where profit-taking and corrective selling could emerge next.

If buyers successfully defend the projected support area, the HYPE price might gain momentum and continue rising towards the $120-$150 range targeted by Wick. However, if prices fall below $72, the correction will continue towards the approaching long-term accumulation area around $40.