Hyperliquid (HYPE) has gained over 14% in the past 24 hours, trading around $46.40 as of publishing time. The rally follows Robinhood’s announcement that the token is now available for spot trading on its platform. The listing significantly boosted visibility and accessibility, drawing interest from both retail traders and large holders.
The move also comes amid broader bullish momentum for the token. Over the past week, HYPE has risen nearly 25%, recovering from earlier October lows around $35. Although the token remains over 20% below its all-time high of $59, recent price action has attracted attention across the market.
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Technical Indicators Show Short-Term Strength
From a technical standpoint, HYPE has moved above key moving averages. The price recently broke past its 200-day EMA (estimated around $38.3) and is now testing the 50-day EMA (approximately $43.28) as support. The RSI currently sits at 55 – a level that signals neutral-to-bullish momentum.
Traders should watch for a potential breakout above $50, which is viewed as a psychological resistance zone. If that level is breached, it could lead to a short-term rally toward previous highs.
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Strategic Developments Support Sentiment
Beyond the exchange listing, broader developments around Hyperliquid may also be contributing to the price recovery. Hyperliquid Strategies recently filed to raise up to $1 billion through a public equity offering. The capital is expected to support expansion efforts, infrastructure improvements, and development of the HyperEVM environment.
The company has also expanded its presence in Singapore and is reportedly focusing on low-latency trading systems. During the October 10 crash, Hyperliquid processed over half of all market liquidations – a performance that strengthened its reputation in the derivatives space.
Outlook Remains Focused on Key Resistance Levels
The recent rally brings HYPE closer to the $50 mark, which remains a closely watched threshold. While price action has strengthened in the short term, it remains to be seen whether volume and sentiment can sustain momentum beyond current levels.
HYPE is still trading more than 20% below its all-time high, but with increased exchange support and institutional interest, the token’s market activity may continue to draw attention in the days ahead.
