Hyperliquid Price Holds Key Support as Bulls Eye $70 Breakout

Hyperliquid (HYPE) price continues to hold above its key support level at $50-$55, indicating that buyers are still in control. According to crypto analyst Cryptographic, HYPE is currently testing an ascending trendline that it has been following during its recent rally.

The analyst believes that this trendline could become a turning point if buying activity returns, and expects the price to potentially trade back towards the resistance level of $70-$74. If the break-up occurs there, the bull market sentiment might be reinforced, and more buyers may be brought into the market.

Hyperliquid has been consolidating after coming back from its recent highs, but holding above this critical support level would suggest that buyers are still in control. However, a break below it could weaken the current outlook and increase the chances of a deeper decline before another recovery attempt.