HYPE Token Eyes $150 Target as Key Support Holds

The price of Hyperliquid's native token HYPE is hovering around $53.77 after experiencing a 2.01% decline in the last 24 hours.

This correction comes on the heels of the token's recent peak near $77, which some analysts had warned was at an elevated risk of a pullback.

However, according to technical analysts, the HYPE price has entered a key support zone between $40 and $34, which could potentially lead to accumulation and further growth.

If the token holds above this demand level, it may continue its positive trend and reach new highs, with some predicting it could touch $100-$150 in value.