Can HYPE’s Price Reach $17 Soon? – Key Factors That Will Determine Its Rally

As of April 18, 2025, market analysts are closely monitoring HYPE’s potential upward trajectory toward the $17 mark. While optimism surrounds this projection, the token’s ability to sustain a rally hinges on several critical factors, including market sentiment, trading volume, and broader crypto market trends. Technical indicators such as RSI and MACD will play a pivotal role in confirming breakout signals. Additionally, institutional interest and ecosystem developments could further influence HYPE’s price action. Investors should remain vigilant, as volatility and external macroeconomic conditions may impact short-term performance.

HYPE could see a short squeeze in the near term

Source: HYPE/USDT on TradingView

The trading volume of the platform remained fine and was under no immediate threat. This also meant the demand for HYPE was healthy. The token’s breakout above the descending channel a week ago has erased all the losses the token made after the 24th of March.

It was approaching the $17.15 resistance that marked the swing high before the descending channel. On the 12-hour chart, HYPE has had a bullish structure since climbing above the lower high at $12.

Therefore, the 1-day and lower timeframes have a bullish structure, and a move beyond $17.15 would signal another leg higher for Hyperliquid token prices. This outcome appeared likely if Bitcoin [BTC] held its nerve.

The A/D of HYPE made a new high, rising beyond the March highs. The RSI was also above 60 to signal strong upward momentum.

Source: Coinglass

The liquidation map showed that some short-term volatility was possible. The short liquidations overhead were higher leverage positions, and had a higher estimated liquidation leverage closer to the price.

In particular, the $17, $17.3, and $17.45 levels are short-term targets due to high leverage liquidations clustered in these areas.

Traders should be cautious of a false breakout past $17.15, driven by short liquidations, as it could reverse quickly. A retest of the $17 zone as a demand level could present a long opportunity for traders.

Monitoring BTC’s movement will be crucial to understanding market-wide sentiment and confirming potential price direction.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion