Usman Salis
Hyperliquid just did what everyone was waiting for - it blasted through $55 and isn't looking back. Trading around $56.6 right now, HYPE is knocking on the door of the $57 resistance zone that could unlock serious upside. The momentum here isn't just technical noise either.
Technical Picture: The Levels That Matter
Real fundamentals are backing this move, from aggressive buybacks to HyperEVM's TVL growth that's got traders like Trenches calling it a genuine breakout signal.
The chart couldn't be clearer about what's happening next:
- Resistance at $57-$57.5: This is the make-or-break zone where HYPE either launches into price discovery or gets rejected back down
- Support holding at $54.5-$55: The foundation that's been rock solid and gave bulls the confidence to push higher
- Volume backing the move: This isn't some low-volume pump - real participation is driving this breakout attempt
A clean close above $57 changes everything and opens the door to fresh all-time highs.
What's Driving This Rally
The fundamentals are lining up perfectly. HyperEVM's total value locked keeps expanding, pulling more liquidity into the ecosystem and creating real utility demand. Meanwhile, the buyback program is doing exactly what it's supposed to - reducing supply while supporting price action during any dips. Add in growing adoption from both traders and developers, and you've got a recipe for sustained momentum rather than just another pump and dump.
HYPE sits in the sweet spot right now. It reclaimed $55 with authority and is testing the next major hurdle at $57. Break through there, and we're talking about uncharted territory with potential targets well beyond $60. But crypto doesn't hand out free money - if the bulls can't crack $57 soon, expect a pullback to $55 to reload before the next attempt. Either way, the combination of strong technicals and solid fundamentals makes this one worth watching closely over the next few sessions.
Usman Salis
