Hyperliquid (HYPE) Price Surges 80% — Eyes Key Resistance at $20

Key Takeaways

• Hyperliquid (HYPE) trades inside a descending wedge.
• The HYPE price has increased by 80% since April 7.
• Can HYPE sustain its momentum and break out?

The Hyperliquid (HYPE) price surged in December 2024, increasing over 200% and reaching a new all-time high price before falling 75% in 2025.

After bottoming out at $9.29 on April 7, HYPE has bounced back with an 80% rally, creating optimism for its future trajectory.

With the primary resistance only 25% above the current price at $20, all eyes are on whether the HYPE price can reach it and break out.

HYPE’s Bullish Pattern

The weekly time frame chart analysis shows the HYPE price has traded inside a descending wedge pattern since its all-time high of $35.73 in December 2024.

The downward movement culminated with a low of $9.29 on April 7, a decrease of 75% since the high.

The HYPE price bounced on April 7, creating a bullish candlestick (green icon) at the wedge’s support trend line.

Since then, the price has increased by 80%, nearly reaching the resistance trend line close to the $20 resistance area.

A breakout above this level will confirm the bullish HYPE price trend, as technical indicators suggest.

The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) generated bullish divergences before the rally.

The indicators are now above 50 and 0, respectively, legitimizing the rally.

Will the Rally Continue?

The HYPE wave count suggests the token completed a five-wave downward movement (red) after its all-time high.

Waves two and four created ascending parallel channels, confirming the five-wave decrease is over.

If so, the upward movement is wave A in an A-B-C corrective structure (green).

While this means that the rally is corrective, it also suggests that there is another high to go before it ends.

The sub-wave count (black) suggests wave A will end soon, leading to a corrective wave B.

While a preliminary target for wave C’s top is between $20 and $22.39, a more accurate one can be determined once wave B ends.

Correction Before Another High

The HYPE price has increased by 80% since bouncing at the support trend line of a bullish pattern.

The price is approaching a critical horizontal and diagonal resistance at $20.

While Hyperliquid will likely reach a short-term top soon, the wave count suggests another high is likely after a correction.