Hyperliquid (HYPE) Price Surges 170% — One More Push Could Set Off a New All-Time High

Key Takeaways

• Hyperliquid (HYPE) broke out from a long-term resistance.
• The HYPE price trades inside the $26.50 horizontal resistance.
• Can HYPE sustain its momentum, or will it reach a local top?

Hyperliquid has fallen by 73% since its all-time high in December 2024, declining gradually over four months.

However, like the rest of the crypto market, Hyperliquid regained its footing in April and has increased by 170%.

With HYPE trading at the final resistance area before its all-time high, all eyes are on the token to see if it can break out and reach a new all-time high price.

HYPE Price Reaches Resistance

The daily time frame analysis shows that HYPE’s price has increased by 180% since April.

The upward movement has barely had any retracement, even after HYPE reached the long-term resistance trend line.

After breaking out, Hyperliquid accelerated its upward movement and has reached the $26.50 horizontal resistance area.

If HYPE clears this area, the token can reach its all-time high price of $35.30.

Technical indicators are still bullish. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are increasing.

Neither has generated any bearish divergence, indicating a breakout is likely.

New HYPE All-Time High?

The HYPE wave count is bullish, showing a completed A-B-C correction (red) since the all-time high.

The ensuing upward movement is impulsive, and no retracement has been seen.

Moreover, wave two has been extremely shallow, indicating strong upside potential.

If Hyperliquid breaks out from its ascending parallel channel, it can create a parabolic upward movement to a new all-time high.

The most likely future outlook is a breakout above $26.50 as part of wave three, and a retest as support in wave four.

Then, wave five can lead to a new HYPE all-time high.

Bullish Trend Ahead

The HYPE sentiment is positive after the price broke out from a long-term resistance trend line.

HYPE trades at the $26.50 resistance, a breakout above which could significantly accelerate the upward movement.

The HYPE price analysis and wave count are positive, suggesting a new all-time high will happen.