Hyperliquid (HYPE) Price Up 57% Since Monday With Strong Bullish Momentum

Key Takeaways

• HYPE broke out from a long descending wedge pattern.
• The price nearing overbought, and short-term correction is likely.
• Impulse structure confirms possible trend reversal.
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Hyperliquid (HYPE) shows strong signs of a bullish trend reversal after completing a lengthy WXY corrective phase. 

The recent breakout from the falling wedge and impulsive structure on lower time frames suggests growing buyer confidence. 

However, the price faces key resistance near the 0.786 Fibonacci level, which may lead to a temporary pullback before continuation.

HYPE Price Analysis 

The 4-hour chart shows HYPE completed a full five-wave impulse into its Dec. 21 peak at $35.17.

A prolonged correction followed in a complex WXY structure, bottoming at $9.35 on April 7, slightly below the 1.0 Fibonacci extension of the prior W leg. 

This low formed inside a descending wedge, a classic reversal pattern from which the price recently broke out.

The current move appears impulsive, with HYPE breaking out of the wedge and climbing toward key Fibonacci retracement levels. 

The price now faces the 0.786 retracement at $15.73, a historically relevant resistance level. 

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The 4-hour Relative Strength Index (RSI) is nearing overbought, indicating some short-term exhaustion, but still leaves room for further upside if momentum persists.

This breakout confirms the completion of wave Y and could initiate a broader bullish phase targeting higher Fibonacci levels such as $19.88 (0.618), and even $22.80 (0.5), if momentum sustains.

HYPE Price Prediction

On the 1-hour chart, HYPE is completing a five-wave impulsive structure from the $9.35 low, suggesting it is initiating a new bullish cycle.

Wave v appears to be in its final stages, and a projected short-term correction in the form of an ABC pattern is likely to follow.

This anticipated retracement could bring the price back toward the $13.50–$14.00 zone, forming wave (a). 

It would be followed by a minor recovery to $14.80–$15.00 (wave b) and another dip potentially testing the breakout zone around $12.80–$13.20 (wave c). 

This correction would allow RSI to cool off and build momentum for the next impulsive leg.

Should this correction play out as forecasted, the next major bullish target lies at $19.88 (0.618 retracement), aligning with wave 3 projection in a higher degree impulse unfolds.

A breakout above $15.72 with volume confirmation would invalidate the short-term pullback and suggest an earlier continuation toward $18–$20 levels.

Key Levels to Watch

• Immediate Resistance: $15.73 (0.786 Fibonacci retracement).
• Breakout Confirmation: Above $15.72 with volume confirmation.
• Short-Term Support Zone: $13.50–$14.00 (potential wave a retracement).
• Wave b Resistance: $14.80–$15.00.
• Critical Support Zone: $12.80–$13.20 (breakout retest / wave c potential).
• Bullish Target: $19.88 (0.618 Fibonacci retracement).
• Cycle Low Support: $9.35 (end of WXY correction structure).