Usman Salis
After weeks of grinding below $50, Hyperliquid's HYPE token finally did what traders were hoping for. The breakout above the heavily tested resistance zone signals that something big might be brewing. Analyst Ali called attention to this technical setup, and the numbers are backing up the bullish case.
HYPE is currently trading around $53.60, up over 5% in the last 24 hours. Breaking past that stubborn $49-50 zone that's been holding prices down since August is no small feat - it's now become the new floor for potential upside moves.
Technical Setup Points to Higher Prices
The chart shows a textbook ascending triangle that just resolved upward. With momentum building, here's where prices could head next:
- $56.78 - First resistance to watch
- $60.75 - Mid-term target zone
- $66.95-$72.53 - Extended bullish scenario
The key level to watch? That $50 mark has now flipped to support. Hold above it, and the rally stays alive. Break below, and we could see a pullback to $45.
What's Fueling This Move?
This breakout isn't happening in isolation. Money's been rotating from the big caps into mid-tier tokens like HYPE, and the technical pattern shows clear accumulation over recent weeks. That suggests bigger players might be quietly positioning for what's next. The steady pattern of higher lows tells a story of underlying strength, even when prices were chopping around.
Market sentiment is turning more optimistic across the board, and HYPE's technical setup is perfectly timed to ride that wave. If this momentum keeps up, that $60-67 range could come into play faster than expected.
Usman Salis
