Hyperliquid (HYPE) is trading higher on Thursday, recovering above the $56 level after finding strong support around a key technical zone in the previous session. The rebound is being supported by improving derivatives positioning and a broadly constructive technical structure, suggesting potential for a short-term recovery. The technical indicators remain bearish but are no longer in the oversold region, indicating that the bears are slowly losing control. Derivatives data points to growing bullish bias Market data from CoinGlass indicates a shift in trader sentiment toward the upside. According to CoinGlass, HYPE’s funding rate turned positive at 0.006%, meaning long positions are paying shorts. This typically reflects bullish sentiment in perpetual futures markets. The long-to-short ratio climbed to 1.
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