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Story Highlights

• HYPE price broke above a pivotal resistance range in the past few hours, reviving the possibility of a 10% upswing this week

• The technicals suggest a minor pullback could be on the horizon, while the derivatives indicate the traders are bullish on the HYPE price rally

  

• A sustained breakout above the local resistance zone may push the price beyond $50, which could open the doors for new highs

  

Hyperliquid has been gathering immense attention in recent times as the price has been rising, regardless of the Bitcoin price variation. Since the rebound in the first few days of the month, the HYPE price has been consistently rising, forming consecutive higher highs and lows.? The latest move does not appear to be just price-driven, but it is supported by a steady rise in the derivatives.?

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The question now arises whether the HYPE price is primed to rise above $50 this week or not. 

HYPE Open Interest is on the Rise 

Hyperliquid’s open interest has climbed sharply, now approaching the $1.9B–$2.0B range, marking one of the highest levels seen recently. The steady price rise confirms that new capital entering the market is driving the current rally. This growth has been relatively consistent, suggesting sustained trader participation as the HYPE price moved from the $30 range to above $44.

When open interest rises to elevated levels near key resistance, it often signals a crowded trade environment. If the price continues higher, this positioning supports a breakout. But if price stalls, the same buildup can quickly unwind, leading to sharp volatility as positions get forced out. This creates a high-stakes set-up where the rising price and rising OI indicate a trend continuation. Hence, if buyers maintain control, the HYPE price may trigger a breakout above the current range as the current move is backed by high conviction and a high leverage setup. 

HYPE Price Tests Key Resistance as Ascending Structure Strengthens

Hyperliquid’s (HYPE) price is currently trading around $44.5, pushing it into a critical resistance zone between $44 and $48, which has historically acted as a rejection area. This level represents the upper boundary of the current range and will determine whether the rally can transition into a breakout.

From a structural perspective, HYPE has been forming higher lows since late February, supported by a rising trendline. This indicates sustained buying pressure and a shift from a downtrend into a controlled uptrend structure.

A key development is the reclaim of the $38–$36 zone as support, which previously acted as resistance. This flip confirms that buyers are stepping in on dips, strengthening the bullish structure. Momentum is also building, with the RSI testing the upper threshold with price steadily approaching the upper resistance band near $48.

If the Hyperliquid price breaks and holds the $48 range, it may rise above $50 to reach $52 or $56 in an extreme bullish case. Besides, a rejection below $44 may further trigger a loss of $41 support, with the lower targets extended from $38 to $36. However, the HYPE price is trending within a defined ascending structure where bulls are in control, and a breakout is likely after a strong compression.?

Therefore, the next move could be a strong expansion rather than a sideways consolidation.?

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