HYPE Price Eyes Record High as Hyperliquid Trading Volume Hits $218B
Key Insights:
- HYPE price watchers have eyes peeled as Hyperliquid trading volume hits $218 billion.
- Analyst Cozy The Caller expects the HYPE price to return to its all-time high sooner
- Improved token distribution follows major holder selling and reduced concentration risks.
HYPE price is changing hands at a level above $55.50 after pumping 2.2% on the week, CoinMarketCap data showed. The Layer 1 (L1) blockchain token recovered from recent consolidation moments after long traders defended lower support levels.
The latest session saw the HYPE price between $52.79 and $55.73. The movement showed renewed demand near the lower end of the range as the token climbed back above $55.
HYPE previously declined toward the $51 to $52 area during the early August market weakness. Buyers entered around that zone and helped push the price higher in recent sessions.
The current chart structure places resistance between $55.70 and $56.00. A move above the $56 level would represent the next key breakout area.
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