Grayscale-Backed HYPE Soars After Bybit Listing – Is This the Next Altcoin to Explode?

A fresh wave of investor excitement has hit the market as Hyperliquid (HYPE), a Grayscale-backed altcoin, surges following its debut on Bybit. With strong momentum and a rapid uptick in price, HYPE is drawing comparisons to past breakout tokens. Traders are now asking whether this listing could be the spark for a much larger rally. As momentum builds, we take a closer look at HYPE’s technical setup and explore whether it truly has the potential to be the next altcoin to explode.

Hyperliquid (HYPE) Eyes Potential Surge Above Key Resistance Levels

Source: tradingview 

Hyperliquid (HYPE) trades between $37 and $42, showing recent strength. The crypto's price has climbed around 13% in the past week and nearly 8% over the last month. Over the past six months, it has skyrocketed by over 117%. With its current momentum, it could soon test the resistance at around $44 and potentially break toward the second resistance near $48, which would be about a 20% jump from the lower current price. The RSI and stochastic indicators indicate the coin is in an overbought range, suggesting strong buying interest. HYPE is on the move, and its recent trend hints at more possible gains ahead.

Conclusion

With over 100% gains in six months and bullish momentum still in play, Hyperliquid is showing signs of strength few altcoins can match right now. If it breaks through the $44 resistance level, a move toward $48 could solidify its position as one of Q3’s top performers. Backed by a major name like Grayscale and riding post-listing hype, HYPE remains one to watch closely as the next potential breakout candidate.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.