HYPE Token Eyes New All-Time High After Strong Rally

Hyperliquid's HYPE token is back at a crucial support zone after a strong upward rally, according to crypto analyst Crypto Spaces. The $55-$60 range is critical for maintaining the broader bullish trend, and holding above it could drive the price towards recent highs.

The HYPE token has been on an upward trajectory, with its price currently sitting at $62.83. Despite a 8.23% loss over the last 24 hours, the network growth and price structure point to a potential bullish reversal ahead.

As the top DeFi revenue generator, Hyperliquid has earned $62.59 million in just 30 days, a testament to the growing demand for its perpetual trading platform. If buyers can hold support levels, the HYPE price may continue its rise and test resistance levels at June highs.