Hyperliquid (HYPE) has experienced a significant surge, reaching a price of $49.63 – an impressive 9% jump in the last 24 hours. This remarkable rise is attributed to a bullish market trend fueled by increasing trading volume and growing DeFi applications. Notably, HYPE’s daily trading volume has jumped by 21%, further supporting this upward momentum. The asset is now pushing towards a key resistance level near $50, with analysts predicting a potential rally toward $55 if it breaks through. The market currently shows signs of bullish sentiment, as seen by the increased buying pressure indicated by indicators like CMF and RSI. However, a break below the $49.77 support zone could signal a possible downturn. To gain further insight into HYPE’s future trajectory, experts suggest monitoring the asset’s technical indicators such as MACD and BBP for potential trends.