Hyperliquid (HYPE) Price Outlook: Rebound Awaits Confirmation for Reversal

Key Takeaways

• A breakout from a descending trend signals a bullish reversal.
• Elliott Wave count suggests a five-wave impulse is developing.
• Key resistance at $15.61 and $18.33, with $12.89 as support.

Hyperliquid (HYPE) has recently exhibited a strong bullish reversal following an extended corrective decline.

The 4-hour chart highlights a broader Elliott Wave structure, indicating a potential shift in trend.

Fibonacci retracement and extension levels are key in identifying support, resistance, and potential upside targets.

HYPE Price Analysis

The 4-hour chart presents a completed corrective wave structure following an extended downtrend from the peak of $35.17.

The price found strong support near $11.81, forming a potential reversal zone.

A descending wedge pattern had been established, culminating in a breakout that signals renewed bullish momentum.

This aligns with the Elliott Wave structure, indicating the possible initiation of a five-wave impulsive recovery.

Key Fibonacci retracement levels outline significant resistance and support levels. The 0.786 retracement level at $15.36 is currently being tested, marking an initial barrier for further upside.

A decisive break above this level would expose the next resistance at the 0.618 retracement level near $20, followed by a more substantial resistance at the 0.5 retracement level at $22.

Momentum indicators suggest increasing strength, with the Relative Strength Index (RSI) rising from oversold levels to neutral territory, confirming bullish intent.

However, price action must sustain above $15.00 to validate a continued uptrend. Failure to hold above this level may trigger a retest of lower supports, with $12.89 as a key pivot.

HYPE Price Prediction

The 1-hour chart reveals an ongoing five-wave impulsive structure.

Wave (iii) is developing, with price action breaking through a minor descending trendline and approaching Fibonacci extension levels.

The next immediate resistance stands at the 1.0 extension level near $15.61, but if this is the assumed wave (iii), more upside will be expected.

A temporary pullback in Wave (iv) may occur before the final Wave (v) extends higher.

Should Wave (iv) materialize, a correction towards the 0.618 retracement of Wave (iii), near $14.57, is a reasonable expectation.

If buyers defend this level, Wave (v) could push the price towards the 1.618 Fibonacci extension at $17.29, aligning with previous structural highs.

A broader bullish target for the impulse lies at the 2.0 Fibonacci extension at $18.33.

This level would represent a significant recovery point in the larger downtrend.

However, should bullish momentum fade and the price drop below $12.89, it could indicate a failed breakout, leading to a deeper retracement towards the prior support near $11.81.

Key Levels to Watch

• Immediate Resistance: $15.61 (1.0 Fibonacci extension).
• Key Resistance: $17.29 (1.618 Fibonacci extension).
• Major Resistance: $18.33 (2.0 Fibonacci extension).
• Immediate Support: $14.57 (0.618 Fibonacci retracement).
• Critical Support: $12.89 (0.0 Fibonacci retracement).
• Short-Term Target: Above $18.33 if Wave (v) extends higher.
• Invalidation Zone: Below $12.89, signaling potential trend failure.