HyperLiquid Breaks Key Level,Eyes 41% Rally
HyperLiquid has transformed a major resistance level into support at $20,indicating strong bullish momentum. If this support holds, the price could surge 41% to $29.
Hyperliquid (HYPE) has reclaimed the $20 level, which was previously a strong resistance. This breakout confirms that bulls are in control. The price is now positioned above this significant level, suggesting a potential continuation of the uptrend.
Here are the key technical points:
- Major Resistance Flip: The $20 level has flipped from resistance to support.
- Fibonacci Confluence: The 0.618 Fib retracement aligns with the $20 support, offering strong backing.
- Next Target: The next resistance is at $29, a 41% move from current levels.
The price action has established a new high, maintaining the bullish momentum.the pattern of higher highs and lows remains intact. Breaking above $20 confirms bullish intent and clears the way for more upside, provided the level holds during any retracements.
If Hyperliquid pulls back, a retest of the $20 region is expected. This would be a classic bullish support/resistance flip, a positive sign in trending markets. The 0.618 Fibonacci retracement aligning with the $20 support adds to its significance.
From a risk-reward perspective, this setup is promising. A bounce from $20 could initiate a rally toward $29. If this level is reached, it would reinforce Hyperliquid’s momentum.
Traders should watch for volume spikes and daily candle closes above $20 as signs of continued strength. If the $20 support holds during any short-term pullbacks, the bullish structure will remain intact, increasing the likelihood of a move toward $29.
