Summary: $3.6 mln HYPE leaves exchanges: Is a major rally on the horizon?

Hyperliquid (HYPE) is making waves in the crypto space, hinting at a major reversal despite recent market correction. Technical analysis shows HYPE retesting a crucial ascending trendline, a historically strong support level since May 2025. This marks the fourth retest of this zone, often a bullish signal for future price action. The asset's Relative Strength Index (RSI) is a neutral 49, suggesting significant room for upward momentum. Investor and trader interest is palpable, with a remarkable 30% surge in trading volume. Compellingly, over $3.6 million worth of HYPE has exited exchanges in the past 48 hours, indicating strong accumulation by investors. This off-exchange movement is often a precursor to price appreciation, as assets are held rather than traded. On-chain data further reinforces bullish sentiment with a consistently positive Funding Rate. This reflects a dominant long-side bias among traders, persisting since April 2025. Analysts predict a potential 45% surge from current levels, targeting the $60 mark in the near future. HYPE's current setup, combining technical retests, neutral RSI, rising volume, and bullish on-chain metrics, positions it as a top contender for a significant breakout. Keep an eye on Hyperliquid; it might just be gearing up for its next big move.