Hyperliquid (HYPE) Price Analysis — Buyers Regain Control After 107 Days in the Red

Key Takeaways

• Hyperliquid (HYPE) bounced after falling to a new yearly low.
• The price has completed a lengthy five-wave downward movement.
• Has HYPE finished its correction, and how high will it bounce if yes?
• Interested in buying or selling HYPERLIQUID (HYPE) coins? Read our review of the best exchanges to buy and sell HYPERLIQUID (HYPE)

Hyperliquid made headlines in March after forcibly delisting a memecoin at a below-market price after suspicious market activity.

There was an adverse reaction to the decision, raising concerns about Hyperliquid’s level of decentralization. 

While the HYPE price reached new lows in April, it has regained its footing and shows signs that its correction is over.

Is this the case, and how long will HYPE increase if yes? Let’s find out.

HYPE Price Analysis

The daily time frame price analysis shows HYPE has corrected inside a descending parallel channel since its all-time high of $35.73 in December 2024.

Descending parallel channels usually contain corrective movements, meaning an eventual breakout from them is likely.

Hyperliquid’s downward movement culminated with a low of $9.29, a decline of 73% since the all-time high.

However, the price bounced (green icon), creating a bullish candlestick and validating the channel’s support trend line.

Technical indicators support the bounce. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) generated bullish divergences before the bounce, increasing their legitimacy.

On top of this, there has been some interesting news regarding Hyperliquid recently.

Yesterday, a Hyperliquid whale longed HYPE with leverage at $11.37 and now sits at roughly $1 million profit. Its market share against other centralized tokens, such as OKB and BNB, is also increasing.

More importantly, Hyperliquid is the protocol with the most revenue in the past 7 and 30 days, surpassing Pump.fun and Jupiter.

Combined with the positive price action, these suggest the HYPE trend is bullish, and the price will increase soon.

Is the Correction Over?

Similarly to the price action and indicator readings, the wave count analysis gives a bullish HYPE prediction.

The most likely wave count suggests that Hyperliquid has completed a five-wave downward movement since the all-time high.

A characteristic of this movement is that waves two and four were ascending parallel channels, as is common in corrective waves.

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While wave five is relatively short compared to waves one and three, those did extend, making this a standard ratio.

Also, wave five ended at the 1.61 external Fibonacci retracement of wave four, making it likely that the decline is over.

If the correction is over, HYPE will soon begin an A-B-C correction (green) in response to the decline.

Considering the length and duration of the downward movement, the correction could take HYPE to at least $19.25, reaching the 0.38w Fibonacci retracement resistance level.

The Fib Time Zone tool suggests the rally could continue until July.

HYPE Correction Over

The HYPE price has corrected since reaching its all-time high in December 2024.

After completing a five-wave upward movement, the correction might have ended on April 7.

HYPE might have started a relief rally that will continue for several months.