Hyperliquid Plans to Add Prediction Markets, Competing with Kalshi and Polymarket

The news reflects increasing interest in crypto and prediction markets, sending a positive signal for the sector to which COIN belongs. Technically, the price has risen by nearly 5%, with the RSI at 53 in neutral territory and the MACD remaining below the signal line, indicating weak momentum. However, trading above the SMA20 and SMA50 supports a short-term uptrend. The MACD being below the signal line and the price hovering near the SMA20 warrant caution. There is potential for a short-term rise, but stronger buying volume is needed for a decisive breakout.

AVAX is trading at $9.47, up over 3% in the last 24 hours. The RSI at 65.9 is not yet in overbought territory, indicating further upside potential. The MACD line is above the signal line and in positive territory, supporting short-term momentum. The price is trading above both the 20-day and 50-day moving averages, suggesting the uptrend remains intact. Hyperliquid's plan to add prediction markets could be perceived as a positive development for the crypto ecosystem, potentially bringing additional demand to AVAX in the short term.