Projected Hyperliquid (HYPE) Value: Trend within Ascending Channel Indicates Potential $65-$70 Range

Projected Hyperliquid (HYPE) Value: Trend within Ascending Channel Indicates Potential $65-$70 Range

Hyperliquid Price Soars as Institutional Investment Basics Surges

In a significant development for the cryptocurrency market, the Hyperliquid assistance fund has made a substantial investment basics in the digital asset. Over the past 24 hours, the fund has purchased over 31 million HYPE tokens, worth a staggering $633 million, bringing its total position value to an impressive $1.7 billion.

This substantial investment basics has not gone unnoticed, as the open interest in Hyperliquid's derivatives market has climbed to $1.51 billion, reflecting increased activity. However, the identity of the institution behind the purchase remains undisclosed in the available search results.

The price of Hyperliquid has responded positively to this news, with the current price standing at $56.19, a 3.98% increase from the previous day. This rise has been accompanied by steady volume flows, indicating a stable market.

Large investors are also increasing their exposure to Hyperliquid, as fresh on-chain data suggests. One whale alone deployed $5.7 million USDC over the last 24 hours, acquiring more than 101,000 HYPE tokens at an average price near $56. Public figures also hold a long position of $47 million in Hyperliquid, while their short position amounts to $22 million.

The technical structure of Hyperliquid and the whale accumulation are sending mixed yet fascinating signals. The asset continues to respect an ascending channel, with key demand zones around $52 and $48. If Hyperliquid can bounce from the $55.5 support level, this could validate it as a demand zone and bring $60 back into play as the next upside target for the bulls.

However, the tug-of-war between bulls and bears means short-term volatility is almost certain for Hyperliquid. The next resistance cluster is seen near $65 to $68, and if whales and the assistance fund continue to step in, the case for a breakout towards $65 to $70 strengthens considerably.

The Hyperliquid Price Prediction leans towards cautious bullishness, with the mid-range support at $55.5 being crucial. Holding above this level strengthens the case for continuation higher, while a clean break below could shift attention towards $50.58, aligning with earlier consolidation zones for Hyperliquid.

Smart money in Hyperliquid currently holds a long position of $86 million, while the short position amounts to $40 million. Large purchases near $56 show that deep-pocketed players are still confident in Hyperliquid, but the short-term outlook remains uncertain due to the ongoing battle between bulls and bears.

In conclusion, the recent investment basics by the Hyperliquid assistance fund has ignited a surge of interest in the digital asset, with large investors increasing their exposure. The technical structure and whale accumulation are sending mixed signals, but the mid-range support at $55.5 remains crucial for the asset's price trajectory. The next few days are expected to be volatile as the battle between bulls and bears continues to play out.

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