This is a massive sign of strength for the markets.
$HYPE is running up massively.
It's made a new all-time high and a strong 48% rally.
The upside of this move is that it usually signals greater strength across the board, with more altcoins to come. Hyperliquid is often the first runner, providing the momentum and signal for the rest of the markets to follow through.
Some warning signals are also there on this chart:
- Significant sigma overextension vs. the 21-Daily MA.
- The RSI is hitting 75+ for the first time since May 2025, indicating that there's some overextension taking place.
Doesn't mean that it can't continue moving upwards; clearly, the trend is strong.
Funny enough, it took the price falling below the $33 low before it started surging upwards, and it never closed below that level. Strong signal for a reversal upwards and continuation to the upside, which then happened.
However, there's a stronger appetite for this one to be waiting for a standard correction. Most optimal is an area at $39. Don't think we'll be getting that, so the lower $40s area is a phenomenal entry point for this one.
We're back in the markets where altcoins are doing great, and given that Hyperliquid is the first-mover in that regard, I would assume we're going to see a lot more momentum from here on out with altcoins in May and June.
