- Hyperliquid extends five-day winning streak, breaks months-old resistance to hit new record high above $40.
- RSI hints at a pullback in HYPE, but MACD signals and triangle breakout still support the bulls.
- HYPE/USD sellers should not engage when the price is above $29.00.
Hyperliquid (HYPE/USD) is now at a new all-time high (ATH), marking its five straight day of gains during Wednesday’s European trading session.
While it recently pulled back from $43.01 to near $42.50, this latest rally links to an upside break of an ascending trend line from mid-December 2024 on the daily chart, plus a bullish triangle breakout on the four-hour chart. Additionally, bullish signals from the Moving Average Convergence and Divergence (MACD) indicator keep buyers hopeful, even though overbought conditions on the 14-day Relative Strength Index (RSI) suggest the run-up might halt.
HYPE/USD: Daily chart points to a halt before next rally
Source: Tradingview
Despite hitting a new all-time high, HYPE/USD hasn’t closed above the 38.2% Fibonacci Extension of the April–May move, around $42.35—resistance that’s tough to break with the RSI near overbought (70).
A daily close above $42.35 would open the door to further upside targets: $46.00 (50.0% FE), $49.66 (61.8% FE), and the psychological barrier at $50.00.
On the downside, immediate support lies at $40.70 (a former resistance line from late 2024), followed by $40.00. Below that, $37.80 (23.6% FE) and the $34.90–$33.80 zone—backed by the 21-day EMA and April’s trendline—pose key challenges for sellers.
A daily close below $33.90 could trigger a deeper pullback toward the 50-day EMA near $29.60.
HYPE/USD: Four-Hour chart points to clear run-up
Source: Tradingview
HYPE/USD’s 4-hour chart favors buyers, confirming a bullish breakout from a two-week symmetrical triangle. This points to a target near $46.80, just below the $47.00 mark.
However, with the RSI above 70, the uptrend may slow as price approaches the resistance levels outlined on the daily chart.
Alternatively, support sits at the triangle’s top near $37.20, followed by the 100-bar EMA at $35.15 and the triangle bottom at $34.00. A break below $34.00 could expose the 200-bar EMA at $31.80—buyers’ last key defense before daily support levels come into play.
In summary, HYPE remains in an uptrend, but bulls may have to slow down every now and then.
