Schlagwort: crypto business

• Hyperliquid price dips 1.2% amid profit-taking and Aster DEX competition.
• Upcoming HYPE token unlocks worth $11.9B spark short-term supply concerns.
• Rising open interest and whale buying signal bullish momentum.

The Hyperliquid price has seen a brief pullback after a significant surge today, shedding 1.2% to trade around $46.57.

Despite this short-term dip, the HYPE token remains up 19.5% over the past week, highlighting continued investor interest and optimism about the project’s long-term prospects.

The retracement follows a strong rally and reflects a blend of profit-taking, technical rejection, and growing competition in the decentralised derivatives space.

Competition and profit-taking weigh on sentiment

After a robust run last week, Hyperliquid encountered selling pressure near the 38.2% Fibonacci retracement level at $49.36.

The failed breakout prompted traders to lock in gains, leading to a brief correction.

The MACD histogram is flipping negative on the 4-hour chart, signalling weakening short-term momentum, while the RSI eased from overbought territory at 69.89, suggesting that the market needed a cooldown after a 19% weekly surge.

Part of the sell-off also reflects the growing rivalry between Hyperliquid and the newly launched Binance-backed Aster DEX.

Since its debut on September 17, Aster has attracted massive trading volumes, processing $20.8 billion on its first day compared to Hyperliquid’s $9.7 billion.

Aster’s rapid adoption and $2 billion in total value locked within a week have shifted liquidity across the decentralised perpetuals landscape, briefly denting Hyperliquid’s dominance.

Still, Hyperliquid maintains a commanding presence in the market.

With a $12.74 billion market cap and a total value locked (TVL) of $4.85 billion, it remains one of the largest decentralised derivatives platforms.

However, traders are watching closely as the project faces near-term headwinds from both external competition and internal supply pressures.

HYPE token unlock fears

The most immediate challenge facing HYPE is a looming token unlock event beginning on November 29.

Around 237.8 million tokens — roughly 24% of the total supply — will begin to unlock over 24 months.

At the current price, this adds nearly $500 million per month in potential sell pressure, partially offset by $65 million in monthly buybacks from the project’s treasury.

This could lead to a monthly imbalance of around $410 million, which could lead to near-term volatility as the market adjusts to the increased supply.

Despite these concerns, the project’s $1 billion treasury filing, connected to the Sonnet Bio and Rorschach merger, could help counterbalance some of the dilution fears.

The treasury’s size and strategic reserves give the team room to manage liquidity and maintain market confidence through buybacks or ecosystem growth initiatives.

On-chain data shows bullish undercurrents

While short-term traders may focus on resistance levels, derivatives, and on-chain data tell a more optimistic story.

Futures open interest (OI) on HYPE has surged from $1.27 billion last Wednesday to $1.97 billion on Monday, the highest level since early October.

Rising open interest signals new capital entering the market, typically an indicator of growing bullish conviction.

Data from CryptoQuant also shows that whales — large investors — are increasing their positions, with buy orders dominating both spot and futures markets.

This accumulation trend suggests that institutional and high-net-worth participants expect further gains ahead.

Network data reinforces this bullish sentiment.

According to Artemis Terminal, Hyperliquid’s 24-hour chain fee revenue reached $2 million, surpassing edgeX and BNB Chain.

High network fees often correlate with elevated trading activity and liquidity, signalling robust user engagement even amid short-term market uncertainty.

Key technical levels to watch for the Hyperliquid price

Technically, HYPE has shown resilience after breaking above its descending trendline and the 50-day exponential moving average (EMA) at $43.54.

Over the weekend, it held that level as support before climbing back above $48.57.

If the token closes above the next resistance at $51.15, analysts expect the rally to extend toward the record high of $59.46, last seen on September 18.

However, a failure to hold above the $43.54 EMA could open the door for a deeper correction toward the $41.6 support zone.

The post Hyperliquid price forecast after rejection at the 38.2% Fibonacci retracement level appeared first on CoinJournal.

Key takeaways

• ZEC is the best performer among the top 30 cryptocurrencies by market cap, up 12% in the last 24 hours.
• The coin is now trading above $350 and could rally higher in the near term.

ZEC surges above $350 as rally continues

ZEC, the native coin of the ZCash ecosystem, has continued its rally, up 12% in the last 24 hours. The rally comes after the coin added 380% to its value in the last 30 days, outperforming other major cryptocurrencies.

The positive performance comes after Solana, the world’s second-largest smart contract platform, launched wrapped ZEC via the Zolana bridge. The wrapped tokens function as standard Solana Program Library (SPL) tokens. Hence, they don’t offer the privacy protections inherent to native Zcash.

Furthermore, they are backed 1:1 by native ZEC but do not conceal balances or transaction data.

ZEC targets $400 as bullish trend continues

The ZEC/USD 4-hour chart is bullish and efficient thanks to the coin’s ongoing rally. The technical indicators are bullish, suggesting that buyers are currently in control. The bullish trend could see ZEC’s price surge higher in the near term.

The Relative Strength Index (RSI) of 67 shows a bullish bias, with the buyers currently in control. The MACD lines are also within the positive region, suggesting that the price could surge higher in the near term.

If the bullish trend continues, ZEC could rally towards the $400 level over the next few hours or days. An extended bullish run would allow ZEC to hit a multi-year high of $500 in the coming days or weeks.

However, if ZEC faces a correction following its recent run, it could retrace to the ILQ at $318 over the next few hours. Further downtrend could see ZEC drop to the major support and TLQ level at $235. This support level will likely hold in the medium term, allowing ZEC to build on its recent run.

The post ZEC rallies 12% as bullish momentum continues; Check forecast appeared first on CoinJournal.

Key takeaways

• ETH is up 5.5% in the last 24 hours and is now trading above $4,100.
• The coin could rally towards the $4,500 resistance level soon.

Ether hits $4,200 as the bullish trend returns

Ether, the second-largest cryptocurrency by market cap, is up by more than 5% in the last 24 hours. The rally allowed the coin to briefly hit the $4,200 level before retracing to now trade at around $4,160 per coin.

This latest development comes as Bitcoin and the broader cryptocurrency market recorded an excellent weekend. Bitcoin is trading above $115k once again after adding 3.5% to its value.

With Bitcoin, Ether, and other leading altcoins recording gains, the total cryptocurrency market cap now stands at $3.91 trillion. Ether could rally higher in the near term, with the technical indicators suggesting further buying pressure. 

Ethereum could surge to $4,500 amid bullish indicators

The ETH/USD 4-hour chart is bearish and efficient despite Ether adding 5% to its value in the last 24 hours. The technical indicators suggest that Ether could face further buying pressure thanks to its rally. 

Ether’s price surged by 5% last week, closing the weekly candle above the 50-day EMA at $4,129 on Sunday. It briefly climbed to $4,206 on Monday before retracing to now trading around $4,160. 

The RSI of 67 shows a bullish momentum, with the MACD lines flashing a buying signal in the last few days. If Ether breaks and closes above its daily resistance of $4,232, it could continue its rally towards the next major resistance and TLQ level at $4,529. An extended bullish run could allow Ether to reclaim its recent high above $4,700. 

However, if Ether faces a correction following its recent run, it could dip towards the major support level at $3,593.

The post Ethereum price forecast: ETH eyes $4,500 amid bullish momentum appeared first on CoinJournal.