Hyperliquid's native token has shown strength with over 11% gains in the last 24 hours, nearing its recent peak daily.
Hype's price has been bullish, almost reclaiming last year's high of $42.25, posing a potential threat with a slight pullback expected at $20 level if it fails to rebound.
A successful break above the yearly high could lead to a significant rally to a new all-time high, with no room for bearish action on the daily scale.
Key levels to watch include breaking $42.25 to trigger a rally to $46 and $50, while support levels are at $35.7, $28.4, $23.25 in case of pullbacks.