The price of Hyperliquid (HYPE) token is in a state of consolidation, providing traders with the opportunity to observe the future market developments. This article presents key support and resistance levels, as well as a technical analysis of the current situation.
Formation of Symmetrical Triangle of HYPE Price
The daily chart highlights a symmetrical triangle for the HYPE price, bounded by a descending resistance trendline near $50 and an ascending support trendline above $41. This formation usually indicates a period of consolidation, where buyers and sellers fight for control. A breakout (upward or downward) through this triangle is likely with a probability of 50% to 75%.
Technical Aspects of Hyperliquid
The 9-day simple moving average (SMA), one of the most widely used indicators for identifying short-term trends, currently sits at $44.07, acting as a short-term support level. The reclaiming of this price point suggests that bullish momentum is still present in the market. The MACD line has crossed above the signal line, hovering around 0.155, indicating a potential shift toward bullish territory. Confirmation of this trend will depend on volume expansion.
Forecasts for Hyperliquid Price
Immediate resistance for Hyperliquid stands at $48 formed by the upper side of the symmetrical triangle, followed by the ATH at $49.86. If the token holds its value above this range, a rise to the target of $54 is possible. The key support levels remain at $44 and $41.90, where HYPE exhibits considerable volatility. In the event of a sharp decline due to profit-taking, the price may retrace to the lower trend line at $37.50.
In the current market situation, the price of HYPE continues to be under pressure between key support and resistance levels. The upcoming events in this trading range are critical for the further development of the market situation.
