As 2026 kicks off, traders are closely watching several key coins. The Hyperliquid token is hovering around $26.53 after failing to break through significant resistance, while Solana has seen a 12% bounce, bringing its price up to $142.87. Both coins show mixed signals, with strength in some areas but uncertainty in others.
Hyperliquid Faces Short-Term Resistance Despite Leading DEX Trading
Hyperliquid has become the dominant decentralized derivatives exchange, processing around $7 billion in daily trading volume. This puts it ahead of competitors like GMX and dYdX. With $8.79 billion in open interest and $4.17 billion in total value locked, traders are using Hyperliquid for longer-term strategies rather than just quick trades.
However, the Hyperliquid token (HYPE) has recently experienced a dip of 3.33%, falling to $26.53. After a strong week for the broader crypto market, HYPE got rejected at the $29 resistance level, a trend that has been seen since mid-December. To regain upward momentum, the token needs to break through this level, with $40 as the next key target.
Solana Shows Signs of Recovery but Faces Key Resistance
Solana has started to bounce back from a prolonged downtrend, rising about 12% to trade at $142.87. This shift indicates a potential reversal, as the coin has broken through important support levels, instilling fresh confidence in traders watching the charts.
However, Solana now faces resistance in the $145-$150 range, with $163 as the next major hurdle if the rally continues. Some analysts have closed long positions, anticipating a slowdown. On the downside, key support lies at $130, and if that fails, the $120-$125 range becomes the next level to watch. A break below $120 could see SOL testing $110.
BlockDAG’s Technology and Potential
BlockDAG isn’t just about a windfall; it’s about groundbreaking technology. The Layer 1 blockchain uses a Directed Acyclic Graph (DAG) structure, allowing multiple blocks to be processed simultaneously. With speeds of 10 blocks per second and plans to scale beyond 100, BlockDAG is tackling the slow speeds and centralization that hold back many networks.
Looking Forward
The Hyperliquid token is backed by solid fundamentals, but it faces resistance that could limit short-term gains. Solana’s price is recovering, but buyers should remain cautious, as a rejection in the $145-$150 range could halt its upward momentum.
