HYPE Poised for Bullish Breakout from Falling Wedge
Hyperliquid (HYPE) is gearing up for a notable price move. The cryptocurrency is on the cusp of breaking out from a falling wedge pattern, a bullish signal for investors.
After hitting an all-time high of $35.02 on December 21, HYPE entered a downtrend. It formed a falling wedge, bottoming near $9 on April 7. Since then, the price has rebounded, surpassing key moving averages like the 9-day Simple Moving Average (SMA), 20-day Exponential Moving Average (EMA), and 50-day SMA.
The Relative Strength Index (RSI) is at 63.51, showing growing bullish momentum. The moving Average Convergence Divergence (MACD) also indicates a bullish crossover, wiht both lines above zero.
if HYPE stays above $18,the next major resistance is $20. This level was a support zone in January and February. Clearing $20 could push the price towards $26, where the upper trendline meets the lower high from mid-February.
A confirmed wedge breakout with increasing volume could see HYPE reach $35, aligning with the upper trendline’s origin. However, if HYPE fails to hold above $18, especially with rising sell volume, it could retest $17.30 or even drop to $12–$13.
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