HYPE has seen a price rally toward $50 following the announcement of a $583 million Hyperliquid token treasury by Sonnet BioTherapeutics and Rorschach. The deal includes $305 million in cash aimed at acquiring more HYPE tokens, which is expected to enhance market sentiment and could lead to HYPE breaking its $50 resistance. The recent price action indicates that while HYPE faced resistance at $50, the bulls have managed to maintain control, supported by bullish signals observed in moving averages and relative strength index (RSI) levels. A potential rebound off $45.80 could further confirm support and propel the price toward $60. Conversely, if sellers push the price below the 20-day exponential moving average ($42.93), the bullish momentum may weaken, potentially leading to a correction toward $41.

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