- Hyperliquid HYPE analysts are targeting a possible move toward €49
- HIP 4 prediction markets generated over $26 million in weekly volume
- Key support near the 21-MA and €33 remains crucial for bulls
Hyperliquid (HYPE) remained under pressure over the past 24 hours, slipping 1.69% to $43.08. Despite the short-term pullback, analysts continue to point toward a bullish structure as prediction market activity accelerates on the network.
Michaël van de Poppe noted that the broader crypto market could drive more liquidity toward derivatives platforms. According to the analyst, Hyperliquid HYPE remains one of the strongest venues for perpetual trading activity. He highlighted the importance of holding the 21-day moving average and the recent higher low near €33 to preserve bullish momentum.
Hyperliquid HYPE Structure Remains Bullish Above Key Levels
The latest Hyperliquid (HYPE) chart structure continues to show resilience despite recent volatility. Analysts believe repeated tests of resistance could eventually trigger a breakout toward the €49 region. Van de Poppe explained that maintaining higher lows remains critical for confirming trend continuation.
The platform has also benefited from growing trading participation across crypto derivatives markets. Increased activity typically leads to stronger fee generation and improved ecosystem demand.
Hyperliquid HYPE Gains Momentum Through HIP 4 Adoption
Hyperliquid (HYPE) is also seeing strong ecosystem growth through HIP 4 prediction markets. Data shared by Karamata showed more than $26 million in trading volume within the first week of launch. The platform also recorded 367,000 trades and over 5,400 unique traders.
Several projects are already building outcome-based markets on the network. Outcome.xyz launched daily Bitcoin-focused prediction products, while Markets.xyz and Kinetiq are developing a liquidity-focused trading infrastructure. Other platforms are preparing macro and crypto event markets.
The HIP 4 framework requires projects to stake one million HYPE tokens before deployment. Analysts believe this could increase long-term token demand while supporting buyback activity.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.