HYPE is holding above $44, with $50 still looking like a potential target.

Hyperliquid (HYPE) is currently trading above $44, a solid move after climbing 8%. All signs point to a continued upward trend, backed by information from both blockchain data and trading derivatives.

Looking at the market, there's consistent buying interest, and things seem balanced, which could mean more gains ahead. The Open Interest, which tracks active contracts, has jumped from $1.5 billion to $1.95 billion, suggesting new capital is flowing into this asset.

Also, the ratio of long positions to short positions is above 1, which tells us that most traders are betting on the price going up.

When you look at the HYPEUSDT chart on a 4-hour timeframe, it's clearly showing an uptrend, consistently making higher highs and higher lows.

The price is currently challenging the resistance area between $44 and $45. If it manages to push past that and stay above it, we might see it move towards the $48–$50 range. However, if it fails to break through, it will likely pull back to $42.

Here are some important price levels to keep an eye on:

For support, look at $42, and then $38.6.
A strong demand zone is between $36 and $34.6.
For resistance, the first hurdle is $44–$45, followed by $50.

The momentum is still positive, and buyers seem to be driving the market. Even though the trend looks strong for going up, it's probably wiser to wait for either a slight price drop or a clear breakthrough before jumping in, rather than buying right where it is now.

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