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📅 July 3, 7:00 – July 9,
HYPE bounces back after whales poured in 8.6 million dollars – Is the upward trend strong enough to set a new peak?
In the past 24 hours, Hyperliquid (HYPE) has continued to show impressive growth, rising by 6.58%, officially reclaiming the $40 mark after a brief correction.
Signals from market sentiment analysis indicate that the capital flow is tending to return to the whole market – a factor that could play a key role in helping HYPE get closer to reclaiming its historical peak.
HYPE whales return, reinforcing the price uptrend
One of the "whales" that previously reaped massive profits from HYPE has unexpectedly reappeared in the market in the past 24 hours, igniting hopes for a new and powerful breakout.
Whale – a term referring to investors who hold a large amount of assets – always has the potential to shake up the market with just one significant buy or sell move. This time, the return of a whale that once realized a profit of up to 8.44 million USD from Hyperliquid is causing a stir among investors. Specifically, this wallet address has just spent over 8.66 million USD to purchase 215,850 HYPE tokens – a number large enough to impact short-term supply and demand.
Retail futures investors rush to open long positions
The wave of retail investors has begun to return to the futures market, with the majority betting on the buying side – reflecting a clear expectation that HYPE prices will continue to rise.
As of the time of writing, the funding rate of HYPE on CoinGlass has surged to 0.0084% in the past 24 hours – a clear sign that trading momentum is gradually heating up again. A positive funding rate that tends to rise often reflects buying pressure overwhelming selling, indicating that bullish sentiment is still prevailing.
The trading volume is also part of the recovery trend, surging to 1.56 billion USD – the highest level since June 26. The strong increase in volume, alongside price fluctuations, indicates that capital is returning strongly and profit-taking activities are becoming increasingly active among investors hoping for quick profits from the short-term rise.
HYPE breaks through historical peak?
Analyzing the daily chart shows that HYPE is entering a critical phase, although the current market sentiment leans towards an optimistic trend.
Currently, HYPE is moving within an ascending triangle pattern – a technical structure often signaling the potential continuation of an upward trend, defined by an upward sloping support line and a horizontal resistance line.
In a positive scenario, if the upward momentum is maintained, the price could expand the increase by an additional 41%, aiming for the next target around the $56 range.
On the contrary, if market sentiment weakens, HYPE may continue to fluctuate within this triangle for a longer time before there is a clear breakout.
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