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Hyperliquid is showing strong bullish momentum as it’s currently on the verge of breaking out of the falling wedge formation and trading above the key moving averages — including 20-day Exponential Moving Average, 9-day Simple Moving Average, and 50-day Simple Moving Average.
After reaching its all-time high of $35.02 on 21 December, HYPE price price entered a downtrend, carving out a falling wedge formation. The price bottomed near $9 on April 7, touching the wedge’s lower trendline before then bouncing and testing the previous resistance at around $17.30. Since then, it has climbed above all major moving averages, including SMA 9, EMA 20 and, SMA 50. The 20 EMA and 50 SMA just had a bullish cross, signaling trend reversal.
The RSI is currently sitting at 63.51, indicating that bullish momentum is picking up. MACD also shows bullish crossover, with both lines above zero. 4 replies
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