HyperLiquid Price Analysis: Airdrop-Fueled Rally Targets $0.1573

Over the past 24 hours, the HyperLiquid market price has increased by nearly 66%. The massive surge comes after the billion-dollar airdrop. The company has distributed 300 million HYPE tokens among its eligible community members. HyperLiquid. 

HyperLiquid aims to enhance the efficiency and performance of its DeFi applications. As a novel layer-1 blockchain, HyperLiquid maintains its main focus on performance and scalability. 

The main feature of the platform is its decentralized perpetual exchange services. It also provides decentralized exchanges that rely on off-chain order books. HyperLiquid has a development team from Harvard, Caltech, MIT, etc. 

Will the new breakout rally surpass the $0.10 barrier this weekend? Let's find out in Coinpedia’s latest HYPE price analysis. 

Hyperliquid (HYPE) Price Performance

In the daily chart, the price surge continues with an intraday gain of 14.20%, creating the second consecutive bullish candle. Compared to its 30-day low of $0.0118, the current market price has surged 527%.

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Based on the HYPE token price action, the overnight surge leads to a bullish flag pattern breakout and results a positive crossover in the MACD indicator. 

Based on the pivot price standard, the bullish trend is expected to surpass the $0.10 psychological mark. The upside price targets are at $0.1236 and $0.1573. On the flip side, crucial support remains at $0.060 and $0.031.

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