Hyperliquid (HYPE) is currently trading around $37-38, nearing the critical resistance level of $39-40, which may determine whether the rebound can continue to $46-50. Technical indicators indicate that a bullish cup-shaped reversal pattern is forming, with rising RSI and accumulation signals providing support. Furthermore, the allocation of smart money also strengthens this overall trend, with data showing approximately $153 million in funds invested in emerging Layer-1 projects like HYPE, highlighting strong institutional investor interest in next-generation trading infrastructure.