HyperLiquid Price Analysis: Airdrop Trend Continues, Target $0.1573!

Bittime - HyperLiquid ($HYPE) price recorded a significant price jump. In the last 24 hours, $HYPE token increased by almost 66%.

This price increase was driven by a massive HyperLiquid airdrop that distributed 300 million tokens. Read this article to find out more!

HyperLiquid Price Surge Post Airdrop

Surge of HyperLiquid's price cannot be separated from the influence of the airdrop that has just been completed. This billion dollar HyperLiquid airdrop has successfully distributed 300 million $HYPE to qualified users.

As a Layer 1 blockchain that focuses on high performance, HyperLiquid prioritizes speed and scalability in its services. 

One of its flagship features is a decentralized perpetual exchange with off-network order book support. This combination of technology also contributed to the surge in HyperLiquid prices.

Read Also: What is Hyperliquid (HYPE)?  

Bullish Trend of HyperLiquid Price

Source: Trading View in CoinPedia

Based on daily chart data, HyperLiquid price continues to soar with an intraday increase of 14.20%. In the last two days, a bullish candlestick pattern continues to form, indicating a strong upward trend.

When compared to the 30-day low of $0.0118, the $HYPE token has surged by 527%. The bullish flag pattern on the price chart indicates the potential for further increases. 

Additionally, the MACD indicator shows a positive crossover, which confirms the continued bullish momentum of HyperLiquid price.

HyperLiquid Price Target

With the ongoing upward trend, HyperLiquid price is targeted to cross the psychological level of $0.10 in the near future. Based on pivot price analysis, the next price targets are at the levels of $0.1236 and $0.1573.

However, you still have to be aware of the important HyperLiquid price support levels at $0.060 and $0.031 which function as a safeguard in the event of a price correction.

Read Also: How to Play Hyperliquid Airdrop  

HyperLiquid FAQ

What is HyperLiquid?

HyperLiquid is a dedicated Layer 1 blockchain-based DEX platform designed for perpetual futures trading. This platform uses an on-chain order book for transaction transparency and adopts a Proof-of-Stake (PoS) consensus system with the HyperBFT algorithm for high efficiency​

What is the Native Token of HyperLiquid?

HyperLiquid's native token is the $HYPE token. Although not yet officially launched, the token is planned for genesis distribution in Q4 2024. HYPE will be used for platform governance, providing liquidity incentives, and offering profits to stakers

How Does HyperLiquid Compare to other DEXs?

Compared to other DEXs, HyperLiquid offers high performance with lower gas fees, a fully on-chain order book, and a focus on user experience like CEX platforms.  

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Reference

Sohrab Khawas, HyperLiquid Price Analysis: Airdrop-Fueled Rally Targets $0.1573, accessed December 2, 2024.

Trading View, Trading View HyperLiquid Price Chart, accessed December 2, 2024.

Author: IPR