HYPE is currently trading around the $54.0 mark and is still moving in an uptrend on lower timeframes. The price of HYPE has been on a steady climb lately, and it even overcame the $50.0 resistance just a few days ago. However, on the hourly timeframe, we are seeing a minor pullback, but nothing that disturbs the broader structure. Let's take a quick look at the latest HYPE charts to see where the price could be headed in the coming days.
Key Takeaways
- HYPE is holding an uptrend and aiming for the $60.0 mark in the short term.
- The rising channel on the 4-hour timeframe supports bullish momentum but carries bearish breakdown risk.
- A retest and potential break below $50.0 could trigger a deeper correction toward $40.0.
Analyzing the HYPE Charts
If we take a look at the latest 4-hour charts for HYPE, we can see that the price is moving within a rising channel, consistently forming higher highs. This structure has remained intact, and we can even see that the price overcame the $50.0 resistance while trading within this structure.
With the momentum sustaining, the next target we are eyeing for HYPE is the $60.0 mark. It is an area where we expect the next psychological resistance, and bears will likely try to take control of the price around this zone.
However, it is also important to acknowledge that rising channel is statistically a bearish pattern and the price could come to retest the bottom levels and break down further. If we do see price come back to $50.0 and break below it once again it is likely this pattern will play out. The next area we will be eyeing for HYPE in that scenario is the $40.0 mark.
If we zoom in on the 1-hour charts we can also see a rising wedge pattern playing out. It is possible that the price is headed to $50 mark once again and how it reacts to it will decide what direction the price take in coming days.
Final Takeaway: What is Next for Hyperliquid (HYPE)?
HYPE remains in an uptrend and is targeting the $60.0 mark in the short term. On the 4-hour timeframe, the price continues to respect the rising channel, which has been the driving structure for this move. However, the pattern itself is statistically bearish and often leads to breakdowns once momentum begins to fade. If HYPE retests the $50.0 support and fails to hold it, that would invalidate the current structure and increase the probability of a deeper correction. Until then, bulls remain in control, but the next reaction around $50.0 will be critical in determining whether the uptrend extends or a reversal takes shape.
