What’s up, fellow degens! If you’ve been holding HYPE (Hyperliquid) lately, I bet you’re having a pretty good week. This coin is straight up crushing it. I mean, we're talking about an 85% rally in just a week.
A lot of people are sitting on the sidelines feeling major fomo right now, while analysts were already hinting at how strong this momentum was. And look at where we are HYPE just smashed its All Time High, hitting price levels that nobody saw coming.
But the real question is. Why is HYPE mooning while everything else is just sideways? Let’s break it down without the boring wall street talk.
The Short Squeeze Effect
First, let’s look at the derivatives data. This is where the magic happens.
If you’re confused by the numbers, here’s the scoop. Any number below 1.0 (like 0.76 or 0.56) means there are way more people betting on the price to go DOWN (shorts) than UP (longs).
Basically, everyone thought, It's gone up too much, it's gotta crash now. So they piled into short positions. But the market had other plans. Whales kept pushing the price up, and all those shorters got completely trapped. This is a classic Short Squeeze. Because the shorters were forced to buy back their positions to stop the bleeding, it just acted like rocket fuel, sending the price even higher.
Liquidations & Volume Going Crazy
What happens when a short squeeze hits? A bloodbath for the bears.
Look at May 14th on the chart those massive red bars? That’s millions of dollars in short positions getting liquidated in seconds. When those shorters get wiped out, it adds even more buying pressure to the market. And you can see this in the volume spike, too.
The volume went totally parabolic, hitting over $600 million in no time. It’s not just a few people trading; it’s a massive wave of money coming in, with late comers finally jumping in because they don't want to miss the boat.
Technicals: The $63 Breakout
Now, look at the 1Day chart. It’s pretty simple.
After the slow grind in late 2025, HYPE finally found its footing around $34. The best part? It just broke through the major resistance at $63.
Right now, we’re seeing a retest of that $63 level. If it holds, this is no longer a resistance it’s now our new floor. If we stay above this, the path to $70 or even $100 looks wide open.
The Bottom Line? HYPE’s rally isn’t just hype (pun intended). It’s a perfect storm of trapped shorters, insane volume, and a clean technical breakout. The retail crowd is still skeptical, which honestly just gives the whales more room to keep pushing.
If $63 holds as support, this ride might just be getting started. As always, keep your risk in check and don't go all in unless you're ready for the volatility. Let’s see how this plays out.
Source
Ajaib Sekuritas Indonesia