According to CoinMeta, the price of HYPE has rebounded to $55.60, closing in on $60 again, mainly due to strong capital inflows and a breakthrough of the downward channel. Since rebounding from the $51 support level, HYPE has risen by about 8.2%. Despite the overall weak market liquidity, the recovery of HYPE is still being closely watched. Currently, HYPE needs to remain above $54.30 to avoid the risk of a pullback.