Hyperliquid is hovering near key support levels, with participants eyeing bullish reversal signals that could mark the start of the next major breakout phase.
Despite recent volatility, Hyperliquid HYPE continues to attract strong market attention as participants see signs of a possible turnaround. The asset’s consistent network activity and high revenue generated through the chain reflect continued demand, even as the price cools near key support points.
Hyperliquid’s momentum could reverse
Market sentiment around HYPE remains bullish, as evidenced NMTD8which believes the asset is just weeks away from the ‘escape velocity’ phase. Despite recent pullbacks, this view suggests that dips are part of a healthy accumulation phase within a larger uptrend.
Structurally, HYPE has maintained a strong price structure, and any sustained recovery above $48 to $50 could spark renewed buying momentum. With volume clustering around these support regions, this phase resembles a textbook reaccumulation zone.
Fundamentally, the ecosystem’s growing momentum and consistent trading activity are fueling optimism that HYPE could soon regain its upward trajectory to new cycle highs.
Technical setup: Dip Zone corresponds to Fibonacci support
The latest graph shared by Crypto-Anbu points out that HYPE’s local top formation has likely completed, leading to a near-term retracement to the 0.618 Fibonacci zone around $38 to $39, an area that historically aligns with highly likely bounce setups.
HYPE returns to its 0.618 Fibonacci support zone, where traders anticipate a potential recovery towards the $50 and $58 targets. Source: Crypto-Anbu via X
If Hyperlqiuid successfully holds this Fib confluence as support, the upside targets will reappear near $50 and $58, matching previous swing highs. This HYPE zone not only offers technical tuning, but also reflects an area of strong volume accumulation, suggesting that buyers could step back in after this cool-off period. A healthy correction here could set the stage for the next impulse wave to the upside, continuing the broader trend.
Downward trend structure is still dominant for the time being
Despite the strength of the project, Hyperliquid HYPE remains locked in a series of lower highs (LHs) and lower lows (LLs), characteristic of a short-term downward trend. The chart shows repeated rejections in falling resistance zones, confirming the sellers’ control as long as the price remains below $50 to $52.
Hyperliquid continues to trade within a descending channel, with $50-$52 acting as key resistance levels to confirm any potential trend reversal. Source: Seven via X
However, this Hyperliquid structure also provides a clear invalidation point for bears; a break above the recent LH would mark the first sign of structural reversal. Until then, competitors will likely treat each rally as a retest opportunity. The trend remains corrective in nature, but consistent support responses around $40 keep the longer-term bullish thesis alive.
Data about the chain strengthens Hyperliquid’s leadership
Recent on-chain stats shared by Hypurr2537 reveal that Hyperliquid currently leads all major blockchains in daily fee generation, surpassing Tron, Solana and even Ethereum in the last 24 hours. This indicates strong protocol activity and consistent user engagement, despite broader market uncertainty.
Hyperliquid leads in daily fees, outperforms major blockchains and signals strong on-chain activity. Source: Hypurr2537 via X
From a technical perspective, HYPE’s strong on-chain performance adds a fundamental layer of support to the price structure. Higher network fees generally correspond to active trading and persistent liquidity flows, which often precede price recovery. While the project continues to top the charts in terms of reimbursement volume, on-chain data supports the case that fundamentals outweigh near-term price weakness.
Hyperliquid price prediction: upside-down head and shoulders at play
Don’s analysis highlights a clear inverted head and shoulders pattern on the HYPE chart after a break from the rising wedge structure. The left shoulder, main and right shoulder formations are now visible, with neckline resistance forming around $48 to $50, a critical zone that needs to be reclaimed for bullish continuation.
Hyperliquid forms an inverse head and shoulders pattern, with a breakout above $50 potentially targeting the $68-$70 range. Source: Mafia boss via X
If this reversal pattern confirms with a breakout and volume expansion, the measured target will be near $68 to $70, aligned with the green projection line. Below, the $42 support remains the key defense level for bulls. This technical combination, a bullish pattern after wedge exhaustion, suggests that HYPE may be forming its medium-term bottom, with recovery potential becoming stronger as the structure matures.
Final thoughts
Multiple analyzes show that HYPE is at a crucial point, technically corrective but fundamentally accelerating. On-chain dominance, structural support zones and early reversal patterns all suggest that the foundation for the next bullish leg is forming.
If buyers defend the $38 to $42 zone and confirm the reverse head-and-shoulders breakout, Hyperliquid’s price forecast could quickly target the $60+ levels. The increasing fees generated by the ecosystem and continued market share growth provide strong validation for market observers anticipating a continued upward cycle.
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