HYPE Price Jumps 2.47% as Hyperliquid Activity Rises

The price of HYPE has shown a 2.47% increase over the past 24 hours, currently standing at $55.68, due to increased activity on Hyperliquid.

This surge in trading volume has been accompanied by strong perpetual trade activity on the platform, despite declining open interest on derivatives exchanges.

The short-term setup for HYPE is cautious, with prices trading below several moving averages, but the 200-period EMA at $51.32 continues to act as a support level.

A sustained breakout above the major resistance area of $66.83 will be crucial in determining whether the price can continue its upward momentum.