HYPE, the native token of Hyperliquid, is gaining substantial traction as investor interest surges sharply. A steady rise in open interest, now totaling $906.76 million, signals growing capital inflow into the asset as per Coinglass data.
The token trades at $26.70, marking an 8.30 percent gain in the past 24 hours. Weekly performance has also been positive, with a 9.46 percent increase in value. This upward price action is accompanied by a sharp jump in trading volume, which has surged by 27.06 percent.
Market capitalization has increased 8.59% to hit $8.92 billion, showing investors are still interested in buying the company’s shares. The big jump in both the cost of Bitcoin and the amount being traded, along with the rise in the number of open positions, shows that many people are feeling very positive about the dollar value of Bitcoin and expect it to go up even more.
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On the 4-hour chart, HYPE is still trading higher than its 9-period Moving Average, which is at $25.59. This means that buyers are the ones in charge of keeping this token going up over time.
A breakout above $26.50 shows that the trend is increasing, making it possible for the price to go higher to the next target of $27.20. If this level is cleared, the price might go up to around $28.00. However, if Bitcoin falls, the $24.50 level is an important point to watch as it could mean the price starts coming back up again.
Source: Tradingview
Surging Open Interest Confirms Strong Trader Commitment
The rise in open interest often signals the entry of new capital into the market, confirming growing trader confidence in HYPE. With more open positions rather than closed, bullish continuation becomes more likely, especially when combined with volume and price growth.
Being in a short-term selling zone indicates that the token’s price may swing around a bit in the short term. Still, the economy is moving forward largely because of strong market indicators.
While HYPE reinforces the bullish pattern, investors are waiting for more supporting signs. The strength of this rally will depend on whether key price and volume trends continue to hold up in the following days.
HYPE’s increase in open interest and higher trade volume confirm that investors are confident about its price rise. Despite occasional drops, technical indicators signal that the market can rise further when investors’ interest stays strong.
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