Binance U.S Sparks HYPE Token Surge — Is It Just a Tease or the Real Deal?

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  • Well, look at that! HYPE just shot up by 20% after Binance U.S made its announcement.
  • Thinking of jumping in? The $30 level might be your ticket… if it pulls back a bit.

So, here’s the scoop. On June 2, Binance U.S made the news official: Hyperliquid [HYPE] would soon be available for spot trading. Naturally, HYPE jumped about 7% right after the news, and then it just kept climbing, ending up 20% higher for the week. It’s almost like the altcoin has a mind of its own. Mind you, it’s not as if this is a surprise… but still, impressive!

At the time of writing (and no, we’re not just trying to sound fancy), HYPE had moved from $31 to $37.85 since Sunday. I know, crazy right? And if you check, from its April lows, HYPE’s up a staggering 300%. Is this the beginning of a new era of fortune? Stay tuned!

Now, the big question: can it keep this up? Let’s dive into the charts. Hold on to your hats.

HYPE Inches Closer to Price Discovery… Who Knows What’s Next?

In December, on the infamous KuCoin exchange, HYPE hit an all-time high of $42.2. That was before it did what every hype-driven altcoin does: cool off a bit. But here we are, with HYPE almost testing that level again. Sure, it tagged $40 in May, but, surprise, surprise, the RSI was getting overheated, so it took a breather at $30.

But fear not! In June, thanks to some renewed optimism and Binance U.S. giving it a little nudge, HYPE surged back up 20%. Too bad, the RSI is once again giving off that “chill out” vibe. Oh, the drama!

To make matters worse, the OBV (On Balance Volume) is looking pretty stubborn at a resistance level from February. If it doesn’t surge past that, HYPE may cool off once again. But here’s the silver lining: if HYPE pulls back to $30 or the 50-day EMA (around $27), that might just be a golden buying opportunity. Don’t say I didn’t warn you.

The 50-day EMA, sitting above the 50% Fibonacci retracement level, is a critical point. If things go south, this could be where the real magic happens for anyone willing to stick around. A $40 take-profit level would give you a 28% to 50% profit. Talk about a nice payday. Just be sure to check your pulse along the way!

The Importance of the $30 Level – No, Really

Oh, but wait! CoinGlass has thrown in its two cents. Their 2-week liquidation heatmap shows a juicy, juicy liquidity zone around $28-$30 (oh, that bright orange, it’s almost like they’re tempting you). Those leveraged longs hanging around there? They’re ready to make things spicy in case of a liquidation frenzy. If it happens, this could offer a sweet discount for new buyers. It’s like a flash sale at a casino.

However, don’t get too excited just yet. If HYPE decides to drop below $30 and the moving averages start looking sad, then all bets are off. Take your chances, but don’t blame me if it falls flat!

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2025-06-04 08:09