The Hyperliquid (HYPE) token has been on a tear, soaring 20% in a week to reach a new all-time high of $48.10. But technical indicators suggest the rally might be overheating, leaving traders wondering: Can HYPE sustain its gains, or is a pullback imminent?
Key HYPE Price Insights
✅ Current price: $47.94 (up 20% weekly)
✅ New ATH: $48.10
✅ RSI above 70 (overbought signal)
✅ 0.97 correlation with Bitcoin
Why HYPE Could Pull Back
📉 Overbought RSI – Historically, levels above 70 lead to corrections
📉 Profit-taking risk – Traders may cash in after the rally
📉 Bitcoin dependence – A BTC dip could drag HYPE down
Bullish vs. Bearish Scenarios
If the Rally Continues:
- Break above $48.10 ATH
- Next target: $50+ (if BTC stays strong)
If a Correction Hits:
- Drop to $42.30 support
- Deeper decline possible if market weakens
What’s Next for HYPE?
With strong Bitcoin correlation, HYPE’s fate may depend on BTC’s next move. Watch for:
- RSI cooling off (healthy for continued gains)
- BTC stability (key for altcoin momentum)
- Trading volume (declining interest could signal a reversal)
Final Verdict
HYPE’s record-breaking rally is impressive, but overbought conditions raise caution. Traders should watch Bitcoin’s trend and prepare for potential volatility ahead.
