Hyperliquid (HYPE) Price Smashes Through All-Time High — Bulls Set Eyes on $45

Key Takeaways

• Hyperliquid (HYPE) reached a new all-time high price on May 26.
• Hyperliquid’s price has increased 300% since its April 7 lows.
• How long will the Hyperliquid upward movement continue?

Hyperliquid (HYPE) has been one of the best-performing assets in the crypto market since April 7, rallying by 300% and reaching a new all-time high.

The rally has been supported by strong on-chain activity. Last week, the Hyperliquid team reported that open interest and 24-hour fees also reached record levels, underscoring heightened market participation.

While the Hyperliquid rally has been impressive, its parabolic nature raises questions about sustainability, leaving traders wondering: How long will it continue? Let’s examine the charts and find out.

Hyperliquid Hits New All-Time High

The HYPE token reversed its downtrend on April 7 and has since maintained strong upward momentum.

Initially, the price was locked within a descending parallel channel, facing repeated rejections that kept it from breaking into new highs.

That changed on May 21, when HYPE decisively broke out of the channel and closed above the $27.50 resistance level, clearing the way for a fresh all-time high.

Following the breakout, the rally turned parabolic. HYPE surged by over 50% in under a week, reaching a new all-time high of $39.39 today.

Technical indicators remain supportive of the uptrend.

The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) continue trending upward.

While both are in overbought territory, neither has formed bearish divergences, typically a warning sign of a potential reversal.

Overall, the daily chart remains bullish, though it suggests the rally is entering overheated territory.

Will the Rally Continue?

The wave count analysis aligns closely with the recent price action, suggesting that while the rally may not be over, it is likely approaching its final phase.

According to this count, HYPE completed an A-B-C corrective structure (marked in red) on April 7, followed by the start of a five-wave impulsive move upward (green).

If this structure holds, HYPE is now in the fifth and final wave of the current bullish cycle, an extension wave that has already pushed the price to new highs.

In extended fifth waves, the move can often mirror the combined length of waves one and three.

Based on that projection, the next potential target sits at $44.65.

Should momentum continue to accelerate, a more ambitious extension could take HYPE as high as the 1.61 Fibonacci level near $56.70.

While short-term upside remains possible, the wave count indicates the rally is likely nearing exhaustion.

A corrective phase could follow once the current wave completes.

Another High Before Correction

The HYPE price has rallied significantly since April 7, creating a parabolic upward movement last week.

Hyperliquid’s price reached a new all-time high of $39.39 today.

While the rally shows no signs of weakness, the wave count suggests it