Market turbulence sees Hyperliiquid's value plummet to $19.2, sparking debate over potential recovery to $22.
Hyperliquid (HYPE) Takes Over TRON's 24-hour Fee Generation, Here's What's Next
фон [Original Article: Akashnath Saman, Share this article Share Tweet]
After hanging out below the $19.2 mark for 11 days, HYPE managed to turn that level into support during a breakout. This breakout also came with a bearish momentum divergence, indicating a potential for further gains.
Hyperliquid outperformed TRON, generating $2 million in fees compared to TRON's $1.9 million over the same 24-hour period on the 26th of April. This fee gap was in line with the noticeable difference in their on-chain activity.
Earlier reports suggested that retail traders were taking a bullish view on HYPE, leading to a retest of the $17.34 level, followed by a rally beyond $19.24. As of press time, the $19.2 level was serving as support.
HYPE Price Targets Beyond $22
Looking at the Fibonacci retracement and extension levels, the 23.6% extension level was the $19.24 level where HYPE consolidated for two weeks. The volume metrics during this consolidation were slightly bearish, with the CMF dipping below -0.05 and the A/D line remaining flat. However, the bullish breakout on Wednesday quelled volume-related concerns.
On the 4-hour chart, the CMF surged to +0.28, while the A/D indicator also saw a sizeable increase. Yet, the MFI presented traders with some doubts, as it made a lower high while the price made a higher high compared to Tuesday, signaling a bearish divergence. This could mean a retest of the $19.24 support.
The 3-month liquidation heatmap shows a liquidation cluster around the $21.35-$22.3 range, with the $22.3 level being the 61.8% Fibonacci extension level, making it an appealing price target for swing traders. The 2-week liquidation heatmap suggests that a rally to $22.3 might not happen quickly, as there's a substantial liquidity cluster at $20.4 that might need to be tested first.
Considering the H4 bearish divergence and the liquidity cluster at $20.4, it seems likely that HYPE will consolidate around the $19.2 region for a few more days before the next rally.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer's opinion
Take a Survey: Chance to Win $500 USDT Can Sonic (S) surge 130% after 360K surge in transactions? Does the recent 62.7% surge in Solana's transactions indicate a potential $146 price tag? #### Share
- Share
- Tweet
Enrichment Insights:
HYPE is currently trading with a bullish momentum, holding above key support at $17.80 (50-day EMA) and testing the $20.00 resistance level. The RSI near 64 suggests room for further upside before overbought conditions.
The May 2025 forecast predicts a range of $18.20–$25.00, with critical resistance at $22.30. A breakout above this level could trigger a surge towards $25.00–$27.50. The $25.00 mark is the upper boundary of the May prediction range, acting as a psychological barrier.
The 2025 outlook suggests an average price of $18.48–$28.02 across platforms. The potential high could reach $41–$41.39 if bullish trends persist. Important upcoming key resistance include $28.74 (Gate.io's upper 2025 estimate) and $35.02 (previous ATH, now acting as resistance). With strong fundamentals, HYPE could potentially reach $41+.
In the long term, HYPE is projected to reach $54.87 by 2026 and $138.16 by 2030, but these projections require sustained bullish market conditions.
Traders should monitor volume spikes and DeFi market strength for confirmation of breakout moves beyond $22. A failure to hold $17.00 support could invalidate the bullish setup.
- With Hyperliquid (HYPE) outperforming Tron in fees, Akashnath wonders if HYPE's price targets could extend beyond $22.
- The 3-month liquidation heatmap shows a liquidation cluster around the $21.35-$22.3 range, making the $22.3 level an appealing price target for swing traders.
- Despite the bullish breakout on Wednesday, the MFI on the 4-hour chart presented traders with some doubts, signaling a potential retest of the $19.24 support.
- Akashnath predicts that considering the H4 bearish divergence and the liquidity cluster at $20.4, HYPE may consolidate around the $19.2 region for a few more days before the next rally.
- As of press time, the $19.2 level was serving as support for HYPE.
- Investors looking at technology-focused finance may want to consider Hyperliquid (HYPE) along with crypto assets like Solana and Tron when trading on platforms like TradingView.
