What Next as HYPE Nears $50 Resistance After Golden Cross

Hyperliquid is nearing a critical resistance level around $50 after a nice pump from a higher-low formation. Will this supply wall break this time?

Hyperliquid ($HYPE) is consolidating from earlier gains, down 3.8% in the past 24 hours to trade at $43.7 per coin. Despite this, it has solidified its position as the 10th-largest cryptocurrency by market cap. With a market cap of $11.19 billion, it leads its closest rival, UNUS SED $LEO ($LEO), by over $1.84 billion.

Earlier, $HYPE was on a clear uptrend, having increased 8.51% in the past seven days. This has ensured it has the second-best growth in the past 30 days in the top 10 crypto ranking by market cap. Only Tron (TRX) has outperformed, with a 4.32% growth in this timeframe.

$HYPE Technical Analysis

The earlier rally followed a well-formed higher low on the daily chart. After a higher high of $43.77 on March 18, $HYPE started to pull back. It retested prior higher highs and eventually found support around $35 on April 2.

Afterward, $HYPE resumed an uptrend from the higher low at $34.47, targeting an upward push. This time, it had a golden cross as further fuel for the rally. This bullish crossover happened between the 200-day and 50-day moving averages on April 6. The latter crossed over the former, signaling that bearish momentum has exhausted.

The price expansion continued, pushing $HYPE past its former higher high of $45.77 yesterday before the current consolidation started. With no clear resistance around this area, analysts expect a further push higher.

Hyperliquid and the $50 Resistance

The $50 price mark is not far off for Hyperliquid. Notably, this is an area of interest for the coin, as it has carried strong sell pressure during prior visits. Between July 2025 and now, $HYPE has tested this level four times, all of which ended in rejection.

$HYPE’s last attempt was in October 2025, when its price peaked at $50.15. It could not break this resistance then, with prices crashing 59% to the January lows of $20.48. Once consolidation ends and the broader market remains favorable, $HYPE could target the $50 resistance level again.

Breaking this supply zone allows an easy retest of its current all-time high of $59.40, which it attained in September 2025, the last time it decisively held above $50. However, failure to breach the supply zone leaves the possibility of a pullback open.

$HYPE Bulls Rekt as Open Interest Drops

The current pullback from the yearly high of $45 has spiked liquidation in the past 24 hours. During this period, $772,760 worth of $HYPE positions were chalked off the derivative market, with most of them being longs.

$466,620 were long positions, while $306,140 were short positions, reflecting the ongoing pullback. However, as $HYPE has shown signs of stabilization, short liquidations have surpassed longs in the past 4 hours, with $53,340 for the former and $43,450 for the latter.

Open interest has also dropped 6.30% in the past 24 hours to $1.81 billion, as derivative interest fades. Meanwhile, futures volume has spiked by 9.29%, while spot volume has dropped 13.7% in the past day.