Current analysis of the Hyperliquid market indicates that the asset is facing a significant resistance zone. The $41.55 level is becoming a crucial point for further price movement.
Resistance at $41.55
Hyperliquid is testing a critical resistance zone at $41.55, coinciding with previous price levels and the 0.618 Fibonacci retracement. This area marks the Golden Pocket. Price action shows signs of hesitation, suggesting that the impulsive leg may have completed.
Formation of a Corrective Structure
Based on technical analysis, the completion of the fifth wave in Elliott Wave theory confirms that an ABC corrective structure may be forming. This typical behavior indicates that the price may enter a consolidation phase, aligning with the beginning of the corrective structure. If this structure plays out, the price may start retracing toward the $26.53 support.
Market Expectations for Hyperliquid
If Hyperliquid fails to reclaim the $41.55 level, a pullback toward the $26.53 support region is likely. This correction is considered structurally bullish, provided that the support holds and a higher low is established.
The current situation in the Hyperliquid market requires close monitoring of trading volumes and price behavior. Traders should watch for increases in volume near supports or breakouts through resistance to confirm the next directional move.
