Hyperliquid’s price has bounced back after weeks of selling pressure | Credit: Hameem Sarwar
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Key Takeaways
After dropping 23% from its peak, the HYPE token price has jumped above $25.
Indicators show that buyers have regained control, signifying a sustained rally.
If HYPE climbs above the overhead resistance, its price could rise.
Since its launch on Nov. 29, 2024, Hyperliquid (HYPE) has become a cryptocurrency to watch. At one point, it was a top-20 token in terms of market capitalization.
But after losing 23% of its value, it is out of the group. However, according to several indicators and key patterns, HYPE appears to be ready to make its next leg up.
This anticipated price action could send the altcoin high above its previous peak if validated. Here is how.
However, in the last seven days, the cryptocurrency’s value has increased by 16% while trading above $25. According to the 4-hour chart, HYPE registered this double-digit increase after it broke out of a symmetrical triangle.
A symmetrical triangle forms when two trendlines with equal slopes converge toward a point. This pattern, with its wider base on the left and the narrowing point on the right, indicates potential consolidation before a breakout in either direction.
A breakdown below the lower trendline typically results in a correction. But in HYPE’s situation, it broke out of the upper trendline when the price hit $23.40.
As shown in the same chart above, HYPE price also surged past $25 due to the rising reading of the Bull Bear Power (BPP). The BBP measures the strength of bulls (buyers) compared to bears (sellers).
When the reading is negative, bears have the upper hand. However, as of this writing, the BBP is positive, indicating that bulls are in control. If bulls sustain dominance, then HYPE’s price will likely trade higher.
HYPE Price Prediction: $40 on the Radar
Technical indicators observed from the daily chart also seem to present a bullish outlook.
Between Jan. 23 and 29, HYPE’s price dropped below the 20-day Exponential Moving Average (EMA), an indicator of a trend.
When it rises above an asset’s price, it means that the trend is bearish. The position during this period aligned with the drop in the Chaikin Money Flow (CMF) to the negative region, suggesting that HYPE faced intense selling pressure.
However, as of this writing, the altcoin has risen above the 20 EMA (blue), indicating that the bearish thesis has been invalidated. In addition,, the CMF reading is back in the positive region at 0.03.
Should the token sustain this trend, it could breach the overhead resistance at the 0.786 Fibonacci level. If validated, then HYPE’s price might retest it all-time high and probably rise toward $40.
On the flip side, if HYPE drops below the 0.618 Fibonacci level, this prediction might not come to pass.
Instead, the altcoin is likely to undergo an intense correction that could send it down to $15.08
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
