Hyperliquid Price Consolidates Near $45 as User Growth Signals Strength

Hyperliquid (HYPE) is holding steady NEAR the $45 support level, a critical zone reinforced by multiple technical indicators including the 0.618 Fibonacci retracement, Bollinger Band lower boundary, and point of control. This confluence suggests a strong foundation for potential upward movement.

On-chain data reveals accelerating network growth, with cumulative users and daily trades trending upward. The recent launch of Hyperliquid's USDH stablecoin further bolsters ecosystem confidence, potentially driving additional liquidity and activity.

Market structure remains decidedly bullish, with $53 emerging as the next key resistance target. Trading volume patterns hint at accumulating buyer interest that could fuel a breakout toward this objective in the near term.