Hyperliquid (HYPE) is trading around $33.10, defying the bearish market trend and showing relative strength compared to the broader crypto sell-off.
Factors driving HYPE's divergence include its focus on high-frequency trading, new ATH of $39, positive sentiment from analysts, limited token supply, and integration into the Hyperliquid trading platform.
The potential for HYPE to reach a new all-time high is supported by maintaining strong support levels, watching for bullish continuation patterns, on-chain metrics improvement, and macro sentiment recovery.
While HYPE's momentum is strong and a move beyond $40 is possible, it is important to monitor broader crypto market stability and volume continuation for confirmation.