HYPE is starting to show up in the right conversations

It’s now ranked 11th on CoinMarketCap, overtaking Sui and edging closer to the top 10, all without a major headline or campaign push

HYPE, the native token of Hyperliquid, has been making a rapid ascent in the crypto sphere, recently overtaking Sui to claim the 11th spot on CoinMarketCap.

What Happened: As Hype over Hyperliquid’s token reaches new highs, it’s important to note that most of the market is still recovering from the broader pullback, but HYPE is already entering rare technical territory. According to data shared by MetamateDaz, HYPE has just broken into price discovery against Bitcoin, making it one of the only altcoins currently at all-time highs on the BTC pair.

As the chart shows, previous horizontal resistance around 0.000035 BTC has now flipped into support, with weekly momentum backing the breakout. As the price pushes higher without overhead resistance, the next levels will be defined more by volume profile and psychological round numbers than historical price points.

Related: Is Hyperliquid’s HYPE Token A Scam? Here’s What We Found

This latest development, shared by Hyperliquid News on X, highlights how quickly things can change in crypto. With HYPE price, starting to stall and showing signs of a potential correction, Hyperliquid is getting closer to the top 10.

Can HYPE sustain its rally? According to technical analysis, the potential for a short-term correction is increasing as HYPE experiences divergence in technical indicators.

One analyst, known as Crypto_Scient on X, points out that RSI is flashing overbought signals and momentum is beginning to fade, with a bearish divergence forming on the chart. This could hint at a local top, or at least a pause in the current rally.

"HYPE price action is still looking strong, but RSI is overbought and we're getting divergence," the analyst stated. "Might be a good place for leveraged longs to exit and wait for a deeper pullback."

This divergence is especially noteworthy given that HYPE is still in bullish territory, outperforming most coins in both USD and BTC pairs.

For those holding spot, this is still deep in bullish territory and we're getting divergence on the chart. I would say it's a good thing if we correct a bit more to get a cleaner setup for continuation. For now, bulls are still in control, it's just a small breather.