Hyperliquid Positions Surpass $13 Billion as HYPE Token Hits New Highs

Hyperliquid's open positions have surpassed $13 billion for the first time since October. This significant milestone comes as HYPE, the native token of Hyperliquid, continues to rise in value.

HYPE has briefly tested the $82 region after breaking through the $75-$77 resistance band, with a current price of $79.30. However, the daily Relative Strength Index (RSI) has reached around 80, indicating a potential risk of overbought conditions and a possible short-term correction.

If the current support level at $75-$77 holds, analysts predict that HYPE could reach as high as $85 or even $90. Conversely, if this resistance band is broken, investors may need to focus on the support levels around $60-$63.