TALLIUM; DOCTOR
- The crypto markets have started the week on a positive note, with BTC trading near $112,000.
- HYPE has overtaken Chainlink’s LINK and climbed almost 8% today.
HYPE surpasses LINK in market capitalization ranking
The cryptocurrency markets opened the week with broad gains as Bitcoin and several large-cap coins advanced. Bitcoin (BTC), the market-leading cryptocurrency, is up about 1% over the past 24 hours and is currently trading around $111,800 per coin.
This positive movement is also lifting many altcoins, and HYPE is among the standouts. Ether (ETH) trades above $4,300 after a modest 0.4% gain, while XRP is approaching $3 after gaining more than 3% in the last 24 hours.
Dogecoin (DOGE) and Hyperliquid’s HYPE are among the best performers within the top 20 by market cap. HYPE has surged nearly 20% in the past 24 hours, outpacing many larger cryptocurrencies in recent sessions.
At the time of writing, HYPE is valued at $50.70 after briefly topping $51 earlier today. This rally has pushed HYPE past Chainlink’s LINK, making it the eleventh-largest cryptocurrency by market capitalization.
HYPE eyes a new all-time high
HYPE is less than 1% shy of its all-time high of $51.04, set 12 days ago. If the bullish momentum continues, the token could record a new peak within hours.
The HYPE/USD 4-hour chart shows an upward and decisive trend, suggesting bulls may be preparing for another leg higher. The RSI at 73 indicates the token is nearing overbought territory if gains persist. MACD lines have crossed into positive territory as well, signaling sustained buyer control.
If the uptrend holds, HYPE could break above $51 and establish a new all-time high near $55 within the coming hours. In a prolonged rally, the token could reach $60 in the following days or weeks.
However, HYPE is currently encountering rejection candles around the $51 level. Should the market undergo a correction, HYPE may retest support near $48 in the short term. The $46.85 support level should provide a firmer floor unless overall market sentiment turns sharply bearish.