Hyperliquid's Bullish Momentum Continues with New Highs in Token Burns and Network Activity

Hyperliquid (HYPE) has regained bullish momentum after retesting support at $75 and attracting renewed buying interest. According to crypto analyst Einstein, HYPE managed to bounce off from the expected pattern and move towards $96.13 from the retest level, marking a 27% gain since the test.

The recent burning of HYPE tokens by Hyperliquid highlights continued protocol activity. The token burns totaled $3.76 million worth of HYPENetwork usage has reached new highs, with monthly active addresses reaching an all-time high of 291.9K. Increased participation can facilitate trading volume and liquidity needs and generate revenue for the protocol fees.

Network performance is also improving, with throughput approaching 19,000 transactions per second (TPS). The main focus now will be on the possibility of consolidation in the range of $95-$100 and targeting higher resistance levels. However, selling pressure can cause a pullback to $75.