Hyperliquid (HYPE) Eyes $50 Breakout as Ascending Triangle Forms
Hyperliquid (HYPE) has rallied from $40 to $47, reinforcing $44 as a critical support level and setting sights on its all-time high resistance at $50. Since July, price action has carved out a large ascending triangle, with a likely resolution by mid-September. A successful breakout above $50 could trigger new highs and price discovery, while a failure risks a retrace toward $40. The 12-hour RSI also shows consolidation in a symmetrical triangle, suggesting a continuation pattern that favors a bullish breakout. Traders should monitor volume and key support and resistance levels to confirm a sustained rally.
Bullish
The formation of an ascending triangle alongside strong support at $44 and converging RSI consolidation indicates a high probability of a bullish breakout above $50. Historically, similar technical patterns in altcoins have led to sustained rallies once resistance is breached. In the short term, traders may see a push toward price discovery, while a confirmed breakout could attract long-term buyers and drive the token to new highs. A failure to break resistance would likely result in a pullback to support, but the overall technical bias remains positive.