Over the past few weeks, Hyperliquid (HYPE), a decentralized finance (DeFi) token, has demonstrated significant momentum in the cryptocurrency market, positioning itself as one of the most lucrative assets in the sector. The token recently achieved its second all-time high (ATH) within a week, contributing to a cumulative gain of 36% so far this month. As HYPE continues to gain traction, it is nearing entry into the top 10 cryptocurrencies ranked by market capitalization.

Currently trading at $44.61, HYPE reached an intraday ATH of $44.79 earlier today. This represents an impressive 11.7% increase over the past 24 hours. The token's price movement reflects robust bullish sentiment, drawing the interest of traders seeking sustained gains in the market.

Following its ATH, HYPE encountered a minor pullback but successfully maintained support at $40.14. This rebound highlights substantial buying interest and market resilience. Given its 36% monthly rise, HYPE appears poised to extend its upward trajectory, with the next potential milestone being $50.00, representing a 11.6% increase from its current price.

Conversely, if investor sentiment shifts bearish and selling pressure escalates, HYPE may retreat to the $40.14 support level. A breakdown below this key level would invalidate the bullish outlook, potentially resulting in losses for market participants. As the cryptocurrency landscape remains volatile, the performance of HYPE will likely depend on a combination of technical factors, broader market conditions, and investor sentiment.

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