Hyperliquid (HYPE) Price Finds Stability — Future Trend Remains Uncertain

Key Takeaways

• Elliott Wave structure shows a completed impulse and ongoing correction.
• Price is testing Fibonacci levels for potential breakout or breakdown.
• RSI remains neutral, awaiting confirmation of trend direction.

Hyperliquid (HYPE) is still trading inside an ascending channel and has recently made yet another interaction with its support.

The price consolidates and could see further rise, but a breakout direction from the ascending structure will serve as a strong confirmation. 

HYPE Price Analysis

HYPE completed a five-wave impulsive structure in December, peaking at approximately $35 before entering a corrective phase.

The current price action is consolidating within a channel after forming what appears to be a corrective ABC pattern to a low of $19 on Jan 13.

The price found local support near the 0.618 Fibonacci retracement, preventing a deeper correction. 

From this point on, we saw the formation of an ascending channel that recovered to $28.40 at its higher point on Jan 31. 

The Relative Strength Index (RSI) currently hovers in neutral territory, neither confirming strong bearish nor bullish momentum.

This suggests the market is at a critical juncture, awaiting a decisive breakout from the consolidation range.

Failing to break higher could result in another retest of the lower Fibonacci levels at $19.83 (0.618 retracement) or even $15.69 (0.786 retracement).

The structure suggests that the corrective stage may have already concluded at the recent low, where the price bounced off the channel’s lower boundary.

However, resistance at the 0.382 Fibonacci level ($25.63) remains critical for bullish continuation. If the price successfully reclaims this level, the next target will be the 0.236 Fibonacci retracement at $29.22.

HYPE Price Prediction 

On the 1-hour chart, the price action is at a key pivot point. The short-term Elliott Wave structure suggests that if the corrective phase has ended, we could be at the beginning of a new five-wave impulsive move.

The bullish scenario would involve price breaking above $25.63, confirming an initial wave (i), followed by a pullback and continuation towards $29.22.

Alternatively, if the rejection at the 0.382 Fibonacci level holds, we may see further downside. A breakdown below the local support of $22.73 could send the price towards the 0.618 retracement at $19.83.

A move below this level would invalidate the bullish outlook, signaling an extended corrective phase toward $15.69.

The RSI on the 1-hour chart is close to the overbought conditions, indicating some short-term buying pressure.

However, a failure to sustain this momentum would confirm further corrective waves before a potential reversal.

The price reaction in the next few sessions will determine the dominant trend moving forward.

Key Levels to Watch

• Immediate Resistance: $25.63 (0.382 Fibonacci retracement).
• Key Resistance: $29.22 (0.236 Fibonacci retracement).
• Immediate Support: $22.73 (0.5 Fibonacci retracement).
• Key Support: $19.83 (0.618 Fibonacci retracement).
• Critical Support: $15.69 (0.786 Fibonacci retracement).
• Short-Term Target for Wave (v): Above $35 if bullish momentum sustains.
• Invalidation Zone: Below $15.69, signaling deeper downside potential.