Hyperliquid (HYPE) Price Could Hit Another All-Time High

Hyperliquid (HYPE) is witnessing a sharp price surge, bringing the altcoin within striking distance of its all-time high (ATH). 

Currently trading at $46.99, HYPE is just 9% away from the $51.18 peak recorded in late August. Market indicators suggest that bullish momentum may continue to strengthen.

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Hyperliquid Has A Shot At an ATH

The Relative Strength Index (RSI) is holding firm above the neutral 50.0 level, placing it in the positive zone. This indicates that Hyperliquid is experiencing bullish momentum that could extend further if investor demand continues rising in the short term.

As RSI trends higher, traders are likely to view this as confirmation of sustained upward pressure.

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Strong RSI readings generally reflect growing buying interest, and for HYPE, this could create the momentum needed to retest previous resistance levels and push closer to its all-time high.

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The squeeze momentum indicator is also hinting at a potential breakout. Black dots are appearing within the bullish zone, while the green bars highlight expanding momentum. This setup suggests that once the squeeze releases, HYPE may note accelerated price action.

Historically, squeezes in this indicator have signaled strong moves in either direction. With the current pattern pointing toward bullish continuation, Hyperliquid may benefit from rising trading volumes and increased market participation, driving its price upward.

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At $46.99, HYPE is edging closer to its ATH of $51.18. Current technical signals support the likelihood of continued growth, with the altcoin showing resilience against selling pressure.

If Hyperliquid breaches $48.70 and flips it into support, the path toward $51.18 becomes clearer. A breakout above this level would mark a new ATH, reinforcing market optimism and potentially sparking further inflows from bullish traders.

However, failure to surpass $48.70 could result in short-term weakness. Should HYPE slip below $46.05, the bullish thesis would be invalidated, leaving the altcoin vulnerable to further downside and a potential correction before another recovery attempt.