BioTherapeutics and Rorschach announce the release of the HyperLiquid Digital Asset Vault
On the 16th (local time), Sonnet Biotherapeutics announced that it will merge with the newly established company, Rorschach, to acquire HYPE, a $583 million investment vehicle.
The price of Hyperliquid (HYPE) has soared to the brink of breaking through $50 after the company decided to set up a token reserve.
According to Cointelegraph's chart analysis of the possible price rise following the establishment of the HYPE digital asset reserve, HYPE is at psychological resistance on the 14th.
Although it has turned back near the $50 mark, buying pressure is still being maintained, which is being interpreted as a positive signal.
The moving averages are continuing to trend upwards, and the RSI is in overheated territory.
The near-term is also a sign that buying pressure is taking control. If the price bounces off the $45.80 line, it will mean that the level has turned into support and will break out of the $50 resistance.
In this case, the HYPE/USDT pair can rise to $60. On the other hand, a drop below the 20-day exponential moving average (EMA, $42.93) could lead to a reversal of the uptrend.
The bulls may weaken, especially if the price sinks below the 50-day simple moving average (SMA, $38.86), which could signal the formation of a short-term top.
On the 4-hour chart, HYPE is experiencing a fierce battle between buying and selling pressure near the 20-EMA. The 20-day EMA is flattening and the RSI is near the midpoint.
Considering the above, there is no clear advantage for either buying or selling pressure in the short term. Buying pressure would need to push the price above $50 to regain control.
If that happens, HYPE could continue its uptrend to $60. On the other hand, if the price breaks below the 50-day SMA, the downtrend could become more severe and the correction could extend to $41.
There is a possibility of expansion.
2025/07/17 12:43 KST
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