Hyperliquid’s token $HYPE has experienced a remarkable rise of 40% since early April. Currently, it is trading within a range defined by support at $17.05 and resistance at $18.95. Recently, $HYPE has also broken above its 50-period exponential moving average (EMA), a sign pointing to a bullish outlook for the asset.

Speculation is growing regarding a possible second phase of airdrops, which could significantly boost engagement within the Hyperliquid ecosystem. As interest grows, the upward pressure on price is likely to follow, making $HYPE a key focus for investors looking for lucrative opportunities in the market.