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▲ Hyperliquid (Hyperliquid, HYPE)/AI generated image ©
Hyperliquid (HYPE) has continued its short-term correction, falling by about 7% this week, but analysis suggests that the possibility of breaking through $100 remains valid due to expanding demand for Real World Asset (RWA) tokenization and continued institutional capital inflow.
According to investment media FXStreet on July 9 (local time), HYPE has shown a continuous decline for four consecutive trading days this week. The heightened tensions in the Middle East have weakened risk asset preference across the cryptocurrency market, leading to a slight slowdown in buying by individual investors. According to CoinGlass data, HYPE futures open interest decreased to $2.74 billion, and 24-hour trading volume also dropped by 29% to $1.99 billion. However, despite a slight decrease in the funding rate from 0.0078% the previous day to 0.0065%, it still remains in positive territory, indicating that the market's bullish sentiment has not completely broken down.
The long-term outlook remains positive. According to SoSoValue's aggregation, HYPE-related ETFs saw an inflow of $3.33 million on July 9 alone, with a cumulative net inflow of $16.08 million this week. Furthermore, in the HIP-3 sector, which offers RWA-based perpetual futures, open interest increased to $3.1 billion, and trading volume grew by 40% in the last 24 hours and 28% in the last 30 days. Revenue over the past four weeks has also remained around $10 million, indicating robust demand for platform usage.
Technically, the upward trend is also evaluated as being maintained. HYPE is currently trading above its 50-day Exponential Moving Average (EMA) of $62.53 and its 200-day EMA of $48.33, maintaining a long-term bullish structure. The peak on June 1 at $75.76 and the pivot resistance (R1) at $77.09 are key resistance zones. If this zone is breached on a daily closing basis, the next targets could be $89.14 (R2) and then $101.35 (R3), the media analyzed.
Momentum indicators also showed a neutral to bullish trend. The Moving Average Convergence Divergence (MACD) remains above its signal line, and the Relative Strength Index (RSI) at 52 suggests moderate upward pressure without being in an overbought zone. Conversely, if it falls below the 50-day EMA, $52.83 could act as a major support level, and in case of further decline, the 200-day EMA at $48.33 is expected to be a key support zone for the long-term upward cycle.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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