Hyperliquid's Recent Surge Driven by Anticipation for HIP-4 Update

Hyperliquid (HYPE) has experienced a significant increase of 76% over the past two weeks, fueled by expectations surrounding the HIP-4 update, which includes fully collateralized outcome contracts. According to NS3.AI, despite the notable rally, social media engagement remains minimal, indicating a lack of overcrowding and potential for a sustained trend amid cautious trader sentiment. Derivatives data reveal strong long positions and minimal short liquidations, with crucial support at $30 and resistance levels at $42 and $47 shaping HYPE's short-term price outlook.