HYPE crypto is down 6% overnight after facing a double rejection at $40. This is the second recent attempt at $40 for HYPE, with the first coming on May 23, which also ended in rejection.
With this latest rejection and 24-hour slump for HYPE, it is now trading at around $35.5, and we may see a drop to around $30 before another run at $40. This on-the-edge price action for HYPE comes as Bitcoin continues to simmer below $110k, looking ready to explode upwards any day now.
$HYPE will be $350 pic.twitter.com/pHNqX0liVf
— David Clarkson (@xdavidclarkson) May 28, 2025
Investors And Analysts Are Still Uber Bullish On HYPE Crypto Even With The Latest Rejection
It must be noted that despite the price of HYPE crypto dipping 6% overnight, the positive sentiment surrounding the project remains at an all-time high. Just scrolling through X, you will see many notable members of ‘crypto twitter’ and analysts still bullishly posting HYPE.
Ansem and Tradermayne are two of the more prominent accounts still uber bullish on HYPE. Ansem specifically says, “If you get gifted anything sub $30 in early June for $HYPE, you just mash the green button and close your eyes.”
The comments from Ansem, while bullish, also point toward the belief that HYPE will slip lower before going higher. HYPE has been in the same D1 trend since reclaiming $13-14 on April 10, and following that trajectory, there is a clean D1 retest between $28-32.
This is a key level to watch for HYPE crypto. If the D1 trend stays intact, a $28-32 retest would be the ideal place to bid before a bounce back toward $40 and potentially beyond.
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If the D1 trend fails, HYPE would flip to a shorting opportunity with nothing but air between $20-26. However, if the trend holds, as it has done for over six weeks now, HYPE could print a triple tap. Another run at $40 would be the third since May 23, with the second attempt on May 26 getting closer than the first attempt.
If $40 is breached on a potential third attempt, it would complete a triple tap for HYPE, hitting $40 and breaking out as a result. The all-time high for HYPE came on May 26 when it hit $39.61, meaning if and when $40 is secured, HYPE crypto will enter price discovery.
The overall Hyperliquid ecosystem is booming right now, with the Layer-1 chain recently becoming the 10th largest blockchain on the market. With over $1.45 billion in DeFi TVL (total-value locked), powered by its decentralized exchange platform, Hyperliquid has overtaken the likes of Aptos, Berachain, and Polygon, per DefiLlama.
BONUS: Solaxy (SOLX) Hits $41.5m In Presale Funding As Smart Money Is Betting Big On Solana’s First Ever Layer-2
While HYPE crypto is balancing on the precipice following two rejections at $40, one crypto project, seemingly ‘up-only’, is Solaxy (SOLX).
After raising $41.5 million in presale funding, SOLX looks set to be one of the biggest presales in 2025, and there are just 19 days left until it ends.
The demand for SOLX is due to its cornering of a niche in the market that has somehow flown under the radar since Solana was launched in 2020. Layer-2s (L2) can be found in spades on Ethereum, from Arbitrum to Optimism, Polygon, and Base, among many, many more.
This L2 sector on Ethereum is currently worth over $16 billion, while Solana has zero L2 protocols to its name until now. Solaxy has a first-mover advantage by launching the first L2 for SOL, aiming to negate the issues that have long plagued the Solana mainnet.
At times of peak on-chain trading activity, Solana has been known to lag, stutter, fail transactions, and even suffer full-blown network outages. SOLX fixes this with roll-up technology—by batching together transactions and processing them off-chain, Solaxy then sends the processed transactions back to Solana for settlement.
With just 19 days left until the Solaxy presale ends, this is the last chance to secure SOLX at presale prices before it goes live across DEXs and potentially even a CEX or 2.
Presale investors can also stake their SOLX, with 97% APY on offer.
Visit The Solaxy Presale Website To Learn More
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