Hyperliquid price rallies over 40% in a week, can bulls push higher?
After consolidating near the upper trendline throughout April and early May, bulls forced a vertical breakout above channel resistance near $50, triggering an accelerated momentum move toward the current $64 region. The breakout also invalidated previous bearish divergence concerns that had emerged earlier this quarter. The 50-day moving average currently sits near $44 while the 200-day moving average remains around $34.5, highlighting the strength of the ongoing trend structure. HYPE continues to trade substantially above both key support levels, a setup that typically signals strong bullish continuation conditions. Momentum indicators have also turned decisively bullish. On the daily timeframe, the MACD histogram remains deeply positive while the MACD line continues expanding above its signal line after a strong crossover earlier this month. Expanding histogram bars suggest buying momentum has not yet fully exhausted itself despite the steep rally. Derivatives positioning also points toward elevated volatility ahead. According to CoinGlass liquidation heatmaps, large leveraged short liquidation clusters are concentrated between $65 and $66.7. A decisive breakthrough in this region could trigger forced liquidations from overleveraged bears, potentially accelerating upside momentum in a short squeeze scenario. Hyperliquid liquidation heatmap | Source: CoinGlass Beneath current prices, notable liquidity pockets have formed near $61 and $60.5, creating important short-term