Hyperliquid (HYPE) has been one of the more resilient tokens this month, gaining approximately 20% as traders piled into its steady upward trend. Riding on the back of a strong ascending trendline, the token climbed from the low $40s to flirt with the $50 level. However, the market is now slowing down. The latest rejection just below $49.89 shows that while momentum is strong, the battle to conquer $50 may define HYPE’s next move.
Momentum Meets Its First Real Wall
The upward sloping trendline, stretching from early June, has been the lifeline for HYPE’s bullish structure. Every dip toward this line has been met with strong buying, preventing deeper losses and reviving rallies. Even during periods of sideways movement, the trendline has maintained sentiment, reminding the market that as long as HYPE remains above it, the broader bullish case remains intact. Over the past 24 hours, traders once again defended the structure, with bids clustering around $44–$45, demonstrating a surge of 9.68%.
The clearest roadblock now is the $49.89–$50 zone. This isn’t just another resistance level; it’s a psychological marker that has triggered hesitation multiple times. Each attempt to pierce through has met selling pressure, which signals that many traders see this level as a profit-taking opportunity. Breaking above it would be more than just a technical win; it would likely invite a new wave of buyers aiming for $52 and $56, price points that have acted as milestones in earlier rallies.
Reading the Moving Averages in Context
While traders tend to focus heavily on price levels, the moving averages quietly tell a story of balance. The shorter-term levels, such as the 20 EMA near $46.9, are serving as stepping stones for each push higher. Beneath them, the 200 EMA at $43.6 remains the fortress, the level that would need to collapse before the bullish narrative truly weakens. The clustering of these averages between $43 and $47 shows that the market is tightly wound, waiting for a decisive break in either direction.
Sentiment and Volume: The Missing Ingredient
So far, sentiment has been leaning bullish. HYPE’s social mentions are climbing, and on-chain chatter remains supportive of the recent uptrend. However, volume tells a slightly different story. While spikes in activity have backed rallies, attempts to reach $50 haven’t carried the explosive volume usually required to break through a wall of resistance. This lack of conviction explains why the price keeps stalling just below the key zone. For HYPE to extend its rally beyond 20% this month, buyers will need to come in force, not just trickle in.
The Next 24 Hours Could Decide the Trend
If the bulls muster enough strength to close above $50, the stage will be set for another 10–12% rally toward $52–$56. On the other hand, repeated failures may exhaust momentum and pull the price back toward its clustered support around $44–$45, or even down to the trendline itself at $40. The token is at a tipping point: either break free or risk losing the confidence built during this month’s impressive climb. After a 20% surge in August, Hyperliquid (HYPE) is sitting at the edge of a critical moment. The $50 ceiling is now the line between continuation and correction, a level that could decide whether bulls extend their dominance or bears claw back control.
