Hyperliquid (HYPE) is currently trading around $37-38, approaching the key resistance level of $39-40, which could determine whether its rebound can continue to $46-50. Technical indicators show that a bullish cup and handle reversal pattern is forming, with rising RSI and accumulation signals providing support. Additionally, smart money allocation has reinforced this overall trend, with data showing approximately $153 million in funding flowing into emerging Layer-1 projects like HYPE, highlighting strong institutional investor interest in next-generation trading infrastructure.