The crypto market saw a series of breakouts on July 28, with Hyperliquid (HYPE), Shiba Inu (SHIB), Chainlink (LINK), and Stellar (XLM) all posting notable moves. Price analysis from Tuesday points to a coordinated push higher, and traders are now watching whether the momentum can carry into the rest of the week.
Hyperliquid's move
HYPE was among the strongest performers, breaking through a key resistance level that had held for weeks. The token's price action suggests buyers are stepping in with conviction, though volume will need to sustain for the breakout to hold.
Shiba Inu catches a bid
SHIB also joined the rally, recovering ground lost in recent sessions. The meme coin's move came alongside broader market strength, but its own technical setup shows a potential shift in sentiment.
Chainlink and Stellar follow
LINK and XLM weren't far behind. Both tokens broke out of short-term consolidation patterns, with LINK testing a level not seen since early July. XLM's move was more gradual but still cleared a resistance zone that had capped upside for days.
What traders are watching
The question now is whether these breakouts have legs. The market's ability to hold gains into the close on Wednesday will be key. If volume picks up, the rally could extend. If not, these moves risk fading as quickly as they appeared. Traders will be watching the daily closes for HYPE and SHIB over the next 48 hours to confirm the breakouts.
