Nasdaq-listed Sonnet BioTherapeutics partners with Rorschach to launch a Hyperliquid digital asset treasury. The deal includes acquiring 12.6 million HYPE tokens and $305 million in cash for future acquisitions. Will the formation of the treasury boost HYPE’s value?

HYPE price dropped from $50 but remains bullish with moving averages and RSI signaling buyer control. A bounce from $45.80 could push HYPE/USDT above $50, aiming for $60. Sellers need to break below $42.93 EMA to weaken momentum, with $38.86 SMA as a potential short-term top indicator.

On the 4-hour chart, HYPE/USDT faces resistance near the 20-EMA, with a neutral stance for bulls and bears. Breaking above $50 could lead to $60, but dropping below the 50-day SMA at $41 may favor bears. Traders should conduct their own research before making investment decisions.

Read more at Cointelegraph: HYPE Aims For New Highs After $583M Treasury Reveal