Hyperliquid (HYPE) To Rise Further? Key Harmonic Pattern Signaling an Upside Move

By: coinsprobe|2025/05/02 20:30:01
0
Share
copy
Date: Fri, May 02, 2025 | 12:12 PM GMTAfter a rough start to 2025, where even Ethereum (ETH) tanked by 45% in Q1, the crypto market is finally flashing signs of life. ETH has rebounded by 31% since its April 7 low — and this fresh wave of bullish momentum is now spilling over into major altcoins.One standout is HYPE, the native token of Hyperliquid’s decentralized exchange. The token has posted an impressive 47% monthly gain, trimming its year-to-date loss to just 15%. But what’s more interesting is that a classic harmonic pattern is now active on the chart — and it’s flashing a bullish continuation signal.Source: CoinmarketcapHarmonic Pattern Signals More UpsideLooking at the daily chart, a Bearish Gartley Pattern is forming, but we’re not quite at the reversal point yet. HYPE appears to be progressing along the final leg (CD) of the pattern, which still suggests more room for growth.The downtrend began around mid-February, after failing to break above the $28.47 resistance level — marked as point X. HYPE then plunged by over 67%, bottoming out near $9.29 (point C) on April 7.Hyperliquid (HYPE) Daily Chart/Coinsprobe (Source: Tradingview)Since that low, the token has been on a strong recovery path, currently trading around $20.27 and steadily marching toward point D, which completes the Gartley pattern near $24.36. If the pattern fully plays out, this would imply a potential 20% upside from the current level.What’s Next for HYPE?The $24.36 zone is key — not only does it represent the D point of the Gartley, but it also aligns with the 78.6% Fibonacci retracement level of the earlier XA leg, making it a critical resistance zone. A pullback could occur here if sellers step in.However, if HYPE breaks above this level with strong momentum, the next logical target would be a full recovery toward point X at $28.47, which is still 41% higher than the current price.Final ThoughtsWith strong technical recovery and a bullish pattern unfolding, HYPE could continue to benefit from the broader market rebound. Traders should closely monitor price action around the $24.36 zone to gauge whether this breakout rally has more fuel in the tank.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.

You may also like

The arrival of the Web 3.0 era: A review of Hong Kong court rulings on digital assets

Hong Kong judiciary landmark: The court officially recognizes cryptocurrency as legal property and introduces the "tokenized injunction" to track and freeze involved funds, comprehensively upgrading the protection of digital asset investors.

Track Markets At a Glance: New WEEX Price Widgets for iOS & Android

To streamline your market data access, WEEX has officially launched "Market Watchlist" desktop widgets

The billion-dollar lesson: The focus of DeFi security is shifting from code to operational governance

Warning of nearly $1 billion loss in DeFi: Security pain points have shifted from code vulnerabilities to permissions and operations. Introducing TradFi bank-level risk control and AI defenses is the way to balance openness and security.

A Brief Analysis of Stablecoin Licenses and On-Chain Funding

Hong Kong accelerates the layout of digital finance, providing a panoramic analysis of the evolution of three major on-chain financial forms: central bank digital currency, deposit tokens, and stablecoins, along with future opportunities.

BVNK Founder: Three Stages of Stablecoin Development

Once payments become faster, cheaper, and globally interconnected, stablecoins will not just open up a new market, but a new realm with boundaries that are not yet visible today.

The truth about Trump's son's Bitcoin game: he made a staggering $100 million while retail investors lost $500 million

The Trump family has a family skill: to exaggerate and make something sound bigger than it actually is.

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com