The Hyperliquid token shows resilience at the $45 mark, experiencing a slight dip over the past 24 hours while maintaining most of its weekly increases. Trading volumes on the platform are reaching record levels.
Hyperliquid Price Stability
Hyperliquid is holding steady at $45, slipping 1% over the past 24 hours, but retaining most of its weekly gains. The token has risen more than 7% in the last seven days and is now trading 9% below its record high from mid-July.
Surge in Trading Volumes
Increased activity in the spot and derivatives markets is driving momentum. Trading volumes surged by more than 50%, reaching $537 million in the last day alone. Derivatives turnover hit $2.65 billion, with open interest decreasing by 1%, indicating active position switching among traders.
Hyperliquid Technical Analysis
The daily chart shows HYPE consolidating near its mid-Bollinger Band, just above $45, suggesting stability. Technical indicators signal a potential breakout. If the $45 level holds, buyers might push the price towards $48.50 and potentially back to July's peak near $50.
Hyperliquid displays resilience amid significant trading volumes, offering positive prospects for further growth. The current technical structure supports traders' optimism in the coming days.
