Following the broad-based weakness in late May, the crypto market is set to resume its bull rally in June.
Unsurprisingly, Hyperliquid (HYPE) has emerged as one of the top performers early with a strong breakout on Monday.
The HYPE price is currently trading at $36.34, with a $12.14 billion market capitalization, already up by 12% since the start of June.
Hyperliquid price predictions from leading analysts remain distinctly bullish for June, with some highlighting $50 as the next price target.
However, sidelined investors – especially leverage traders – should identify key buy-in zones to avoid entering at resistance levels.
There is also a concern regarding whether it is too late to invest in HYPE and if new low-cap assets can deliver higher returns.
Hyperliquid Price Prediction – How High Can HYPE Go in June?
Hyperliquid is back among the top performers at the slightest hint of a broader market recovery, which signals high latent demand.
HYPE has broken out once again – both above its descending trendline as well as the $35.80 resistance level.
HYPE has even successfully retested the $35.80 level and appears to have flipped it into a support level. The next price target for the altcoin is a new all-time high above $50 – which many experts believe is achievable in June.
Unsurprisingly, smart money and deep-pocketed investors are FOMO buying it at the current market price, making sure they do not miss out on Hyperliquid’s next upside target.
On-chain data platform Spot On Chain flagged a whale buying $4 million worth of HYPE today, on Tuesday, at an average price of $36. He has also opened a 4x leverage long on the token.
This whale has already booked $361k in profits from HYPE, adding weight to his trading signals.
Similarly, top traders on the Hyperliquid trading platform are either going long on HYPE or reducing their short positions, confirming its bull trend, data from Whale Watch Perps reveals.
Hyperliquid continues to prove itself as a fundamentally strong investment, far from just another hype-driven shitcoin. In fact, it was the highest revenue-generating application in all of crypto this May – its third consecutive month at the top.
Meanwhile, Hyperliquid also achieved a monthly all-time high trading volume in May, while also accounting for 74.97% of the Total Volume for decentralized perpetual exchanges.
To top it off, the Layer-1 coin recently secured a Binance Futures listing, with its Coinbase and Binance spot listings coming down the pipeline.
As previously mentioned, Hyperliquid price predictions from prominent analysts remain distinctly bullish. Popular trader 800.HL (@degennQuant) claims that HYPE will hit $50 in June.
Considering that the Hyperliquid price has successfully retested the $35.80 resistance level paves an excellent buying opportunity for sidelined investors. Assuming market conditions remain bullish, HYPE might be on track to achieve its June price target of $50.
However, if HYPE fails to form a new all-time high – above the current $40 ATH – in the coming days, it would create a bearish head-and-shoulders pattern and could result in a sharp sell-off.
Therefore, Hyperliquid could currently be a better play for leverage traders rather than spot buyers, who could find much higher returns elsewhere.
Could Solaxy Deliver 10x Returns?
The return of the bull market euphoria in early June promises the ideal backdrop for low-cap gems.
For instance, the first prominent Solana Layer-2 coin, Solaxy (SOLX), is set to launch mid-June, which is creating quite a buzz among whales and low-cap hunters.
The SOLX presale has already raised nearly $44 million, which signals the strong demand and its high upside potential. It has recorded a plethora of high six-figure investments from whales, often the best indication of excellent prospects.
Meanwhile, the Solaxy Layer-2 Testnet went live on Monday, with the development currently moving ahead of schedule. The chain will be fully operational by June 2025.
Solaxy’s cutting-edge scaling solution promises fast and cheap transactions, zero downtime and exponential scalability on Solana, even during periods of heavy network congestion. In fact, experts believe it could be a key part of the Solana ecosystem in the long term.
The SOLX presale is ending on June 16th, with the token expected to launch on Tier-1 exchanges just a few days later. Considering the IEO is scheduled amid a full-fledged bull market, the Solaxy price could see an explosive rally right out of the gate.
Several influencers have even called it the next 10x crypto.
Visit Solaxy Presale
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