• HYPE rebounds 38% in one week, signaling renewed investor confidence and strong momentum.
• Technical breakout and indicators suggest HYPE could soon surpass the $50 resistance zone.
• A short-term dip to $44 support may set the stage for a bullish push toward new all-time highs.

Hyperliquid (HYPE) has recovered after it declined sharply earlier this month, up 110% since the October 10 crash. The price recovery of the token follows a breakout from a downwards wedge, which is generally considered a bullish sign in technical analysis.

The rebound has brought Hyperliquid near a critical resistance point at $50, which may be a determining factor in whether the token continues its upward trend or enters a temporary consolidation. 

Hyperliquid Fibonacci Projections Indicate Upside Near $65 & $75

Hype’s price is currently trading at $47.65, marking a 36.8% rise over the past week. Analysts say that HYPE’s recent breakout from a downwards wedge pattern has reinforced the bullish view. 

According to Fibonacci extension analysis, which was cited by crypto analyst George, possible upside levels are predicted at $65 and $75.22. The first target is linked to the 1.618 Fibonacci extension level, and the second to the 2.0 extension, both of which are crucial bullish levels. 

These projections indicate the potential 50%-60% price increase, provided that existing momentum is sustained. The green target zone in George’s chart visually represents this expected bullish range. Sustained price action above $50 will affirm this projection, supported by the ongoing formation of higher highs and higher lows.

The analysis is based on a well-defined risk management structure and the well-defined invalidation point at $36.42. This level serves as an essential support level to maintain the bullish scenario. However, a move below this level would invalidate the current pattern and may also signal the beginning of further retracement. 

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Short-Term Pause Expected Before Possible Continuation

Short-term analysis indicates that there could be a short-term pullback towards the $44 support zone before the next advance. If HYPE holds this level, it could set up another move towards new highs.

A concurrent analysis by Ali Martinez on TradingView notes a period of short-term cooling in the HYPE price following a sequence of consecutive bullish periods. This chart recognizes a TD Sequential count reaching nine levels, a situation in which temporary buyer exhaustion is anticipated. The altcoin peaked at nearly $49.50 before reverting to $46.50, indicating that selling pressure is not high.

Although there is a short-term downturn, the structure remains bullish, with higher lows still forming. Ali Martinez indicates that, as long as the price remains above the $44-$45 zone, there will be a bounce back to $52-$54 levels in future sessions. However, a slight drop below $44 will be a temporary setback to the bullish argument, but the general momentum will remain on an extended upward trend once consolidation is complete.

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