HYPE is Attempting a Strong Technical Rebound After an Extended Decline, Targeting $20

HYPE is putting more focus on ecosystem development, with 2025 price forecasts pointing to a gradual increase toward $0.07.

Hyperliquid (HYPE) is showing signs of a potential technical rebound, aiming for the key $20 level if current momentum sustains, according to Benzinga Pro.

After peaking at $35.02 in December 2023, Hyperliquid has been sharply declining, forming a falling wedge pattern, which is known to precede upward reversals.

On Friday, the price hit a low point near $9 before showing signs of recovery. It managed to rise again above the 20-day EMA, 9-day SMA, and 50-day SMA, indicating potential strength.

Analysts believe that if the price manages to break above the $18 to $20 range, it could continue rallying, especially with the alignment of moving averages adding to the bullish narrative.

However, traders should be aware that failure to hold current levels may bring further downside, testing the crucial $10 and $13 levels.

As the broader market shows signs of recovery and Hyperliquid tests important price zones, the $10 and $13 levels will be key short-term markers to watch.

What To Know: VeChain (VET) is trading at around $0.0267 on Friday morning, showing signs of recovery as broader market sentiment improves.

Technical analysis varies, with some analysts on Derivatobot seeing potential for a rise to $0.03, while more bullish outlooks on Chainlink predict a possible increase to $0.07, depending on broader cryptocurrency adoption and market support.

VeChain continues to expand its enterprise-grade supply chain solutions and has partnerships with firms like BMW and DHL, highlighting its focus on real-world use cases.

The token has also gained support from major crypto funds, further boosting its visibility and potential for recovery.

However, traders should be aware of the volatility common in the crypto market, and performing a deep analysis is crucial before making any investment decisions.

Ultimately, VeChain's progress next year will depend on its ability to grow its platform, maintain user and enterprise interest in its ecosystem, and respond to broader market trends.

Stay tuned to Benzinga for more crypto news and analysis.

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