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HYPE price forecast: HYPE could rally to $40 as market recovers
- Hyperliquid’s HYPE has outperformed other major cryptocurrencies by adding 5% to its value in the last 24 hours.
- Bitcoin is trading above $101k, while HYPE is now aiming for the $40 resistance level in the short term.
- BTC and HYPE, among others, have started to recover after a bearish period, with Bitcoin surpassing $101k.
- HYPE, the native coin of Hyperliquid, dropped to $31 but has rebounded to $35.40; it could rally towards $40 if bullish momentum continues.
- HYPE has shown impressive performance over the past year, gaining 1,000% and becoming the 11th largest cryptocurrency by market cap.
- HYPE's price action is dynamic as it aims to challenge Cardano for the 10th spot in the market.
- Despite a recent 21% decline from its all-time high of $45, HYPE could approach the $40 resistance level with ongoing bullish momentum.
- Technical indicators suggest potential for HYPE's upward movement, with MACD possibly turning positive and RSI reaching the neutral zone.
- If the bullish trend continues, HYPE might test the first resistance at $38.50 before potentially rallying to $40.
- The Middle East crisis is impacting the broader cryptocurrency market's performance amid HYPE's potential upward movement.
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