Hyperliquid (HYPE) has broken above a key horizontal resistance level with strong bullish momentum on Tuesday, March 10, signaling a potential shift in market structure.
The level that previously capped price action is now turning into support, a technical development traders often interpret as a sign of strengthening buyer control and improving sentiment around the asset’s short-term outlook.
Source: Alpha Crypto Signal’s X Post
If HYPE continues holding above this newly flipped support zone, the breakout is likely to remain valid and the bullish structure intact.
Sustained acceptance above this level would reinforce upward momentum, keeping the continuation scenario active while positioning the asset for a potential move toward the next major resistance target near $39.
Also Read: Hyperliquid Retests $28.50 Support as HYPE Holds $30 Level
According to TradingView, the Relative Strength Index (RSI) is currently at 62.66, which indicates a very strong bullish momentum but still remains well below the overbought level at 70.
This implies that this asset still has plenty of room for growth before a technical correction can be expected. The latest crossover above its average for the RSI line indicates a buildup in buying activity.
Source: TradingView
The MACD indicator also confirms this optimistic view since the blue MACD line has moved above the orange signal line. This bullish confirmation is reinforced by the fact that the MACD line has entered the green area.
Both lines are moving upwards from the zero baseline, confirming the ongoing recovery and the strengthening nature of the prevailing market trend.
Apart from this constructive price movement, Hyperliquid has officially launched spot trading, deposits, and withdrawals for ZCASH (ZEC) on Monday, March 9. This is a move in the right direction for the privacy-focused community.
Unshielded ZEC addresses are currently supported, allowing for transparent transactions between Hyperliquid and other addresses. This is a great move for traders looking to buy, sell, and trade ZEC in a fast and secure manner.
As Zcash is now live for trading, Hyperliquid is further solidifying its position in the competitive exchange space. Users can now access ZEC liquidity and participate in the ecosystem directly on the platform.
Although users are still unable to trade in shielded ZEC transactions, this is a significant move towards growth, innovation, and providing diverse, fast, and compliant trading solutions in one place.
Also Read: Hyperliquid Buybacks Remove 11,768 HYPE From Circulating Supply
