Hyperliquid Targets $60 Breakout as SEC Eyes Pre IPO Markets

Hyperliquid is showing strength as its native token HYPE climbs toward the $60 mark. The token is currently trading above $58, supported by a healthy technical setup. With the price sitting comfortably above its 50, 100, and 200 day exponential moving averages, momentum remains firmly in the hands of buyers.

Beyond the charts, the platform is making waves in the halls of power. The Hyperliquid Policy Center has teamed up with trade[XYZ] to petition the SEC to legalize pre IPO perpetual markets in the United States. These products allow traders to speculate on a company's valuation before it officially lists on a stock exchange. The proposal argues that these instruments offer valuable price discovery for both investors and issuers.

It is important to note that these contracts do not grant any ownership, voting rights, or claims on the underlying company. They are strictly tools for price exposure. While supporters see this as a way to broaden market access for everyday traders, critics warn that these products could expose users to high risk and potential price manipulation.

Looking ahead, traders are watching the $60 resistance level closely. If HYPE can break through this barrier and sustain its momentum, it may signal the start of a stronger recovery. However, failing to clear this zone could lead to profit taking and a retest of support levels near the 50 day moving average.