HYPE Price Rises as Whale Withdraws $10.69M from Coinbase

The price of Hyperliquid (HYPE) is on the rise as traders anticipate a breakout above key resistance. A whale withdrawal of $10.69 million from Coinbase has added to the optimism, and strong ecosystem fundamentals have also contributed to the bullish momentum.

Market participants are now watching for sustained buying pressure and confirmation of a broader upward trend. The token's price is currently trading at $54.92 with a 24-hour trading volume of $196.43 million and a market capitalization of $13.88 billion, according to CoinMarketCap.

Crypto analyst Zoe notes that HYPE is gaining attention as traders identify its current region as a potential accumulation zone. The token previously rallied sharply after defending a similar support area, eventually reaching an all-time high.

While the level of $65 is crucial for the token's future price movement, a solid breakout above this level will reinforce the bull setup for HYPE. Additionally, the network has reported good earnings from its platform, trading volume, and consistent token buybacks, which could drive the price towards $100.