HYPE Surges Over 115% Since April Low, Approaches Key Resistance Levels
HYPE has increased over 115% since its low on April 7th, indicating a strong recovery and renewed trader confidence. Key points include:
- Current market sentiment favors risk-taking among traders.
- Bulls are in control, testing significant resistance levels.
- An analyst noted HYPE's positive response after retesting a liquidity level, suggesting potential for sustained upward movement.
- On-chain activity and market sentiment are improving.
HYPE is nearing the $20 resistance level, with support seen at the $17 zone following a brief pullback. A decisive move above $20 could lead to further price discovery, while maintaining strength above $19 will keep the bullish structure intact. Key resistance to watch is at $22, which, if reclaimed, may trigger additional buying.
- Risks persist if momentum declines or broader market conditions worsen.
- A drop below $17 might indicate a retracement to $14–$15.
Upcoming sessions will be critical for HYPE's performance in the DeFi sector.