Following a recovery from lows near $20, the Hyperliquid price has received significant attention, which has intensified this week. The trader’s participation increased heavily since the last trading day, as volume rose close to a billion, pushing the price close to $35. However, the bears seem to have capitulated to the crucial resistance zone between $34.85 and $35.84, restricting the rally below the range. The current price action may appear to be a profit-taking phase, but in the wider perspective, the HYPE price is primed for a continued upswing.
The price cleared the neckline of the double bottom pattern and surged more than 25%, which is almost the depth of the pattern. Usually, the rally retraces 8% to 10% following a breakout and turns one of the immediate resistance levels into a firm support. Now that $30 is believed to act as a strong base for the upcoming rally, the Hyperliquid price is expected to keep up the momentum and head towards new highs.
As seen in the above chart, the HYPE price has risen well above the demand zone, around the lows. Although the price is facing some upward pressure, there is no strong supply zone that has formed around the current price range. This suggests the bulls are in much control and may continue to remain dominant. On the other hand, the CMF experienced a strong bullish reversal just after plunging below 0, indicating a rise in the buying interest as liquidity flows into the token.
All the parameters suggest the Hyperliquid price may continue to rise high in the coming days, which could include a couple of pullbacks. Until the token defends the support at $30, bullish prospects may prevail with a target of smashing new highs. Moreover, the price has risen over the 50-day MA, which will hold the rally if bearish pressure intensifies. Therefore, the HYPE price is believed to break the barrier at $35.5 and rise above $40 to test $42, which is an important trend reversal zone.
Once the HYPE price surpasses these levels, a new ATH beyond $80 is imminent, which may extend to $100 in late 2026.