The HYPE token experienced a remarkable surge, soaring over 125% in just 24 hours. This dramatic increase in price brought trading volume to an impressive $221.58 million. While the RSI suggests a probable price reversal at 38.70, the MACD shows a weakening of bearish momentum. Following a week-long downturn across the crypto market, Hyperliquid, a Layer 1 blockchain focused on financial applications, saw significant growth in its HYPE token. This surge has pushed the market cap to $3.96 billion and trading volume to $221.58 million, demonstrating its newfound momentum. Source: CoinMarketCap, Coinglass reveals HYPE’s open futures are steadily rising, with a peak of $434.55 million on April 8th. The token has shown stable movement with the open interest trends throughout this period. Further analysis by technical indicators like the RSI at 38.70 and MACD -1.31591130 suggest a short-term consolidation phase is likely, followed by a potential price rebound. Looking at key levels: $10.23 serves as solid support with deeper support observed around $13.06. A rise above the resistance near $15.00 will bring attention to $18.00. These support and resistance zones will play crucial roles in determining HYPE’s future trajectory.