Saad Ullah
⬤ Hyperliquid's token has made a strong push higher, climbing from the sub-$30 range into the $40-$42 region. Analyst Crypto Tony flagged the move, noting the asset printed a sharp impulsive rally that confirmed a clear breakout structure off its recent lows. The chart shows momentum firmly in the hands of buyers for now, though price has started stalling near a well-defined resistance ceiling.
⬤ The horizontal resistance around $42 is proving difficult to clear, with sellers defending the zone and causing a short-term stall in what had been a near-vertical rally. This mirrors patterns seen before - in HYPE Price Soars as Traders Call the Chart "Insane", the token went parabolic before entering a consolidation phase.
Price pushed hard into resistance at $42 - the real question is whether $38.30 holds on the pullback.
⬤ The most likely near-term scenario is a retracement toward the $38.50-$38.30 range, which sits just above the breakout level and aligns with short-term support. This kind of pullback is textbook behavior in strong trending assets. A similar dynamic played out in HYPE Holds $33.5 Support as Double Bottom Pattern Emerges, where buyers repeatedly showed up at critical levels before the rally resumed.
⬤ The risk here is real. As history showed in HYPE Price Crashes 53% After Rejection at $50 Resistance, failing to hold key levels after a rejection can trigger a deep correction fast. Whether the $38.30 zone absorbs selling pressure or gives way will likely set the tone for HYPE's next directional move.
Saad Ullah
