Hyperliquid (HYPE) Eyes $50 Surge as Analysts Weigh In on Critical Price Action
After a recent dip below the $30 threshold, Hyperliquid (HYPE) has shown a modest recovery, sparking a debate among market analysts about its potential to climb towards the $50 mark. While some see clear indicators for an imminent surge, others caution against significant retracement risks.
HYPE Positioned for a Potential Rebound
Market analyst OxMakeSense presents a notably bullish outlook for HYPE, mapping out a potential trajectory for the token to reach $50, just shy of its all-time high of $59. This optimism is fueled by the identification of untapped liquidity at higher price levels, which could power a rapid ascent. A crucial checkpoint for HYPE is the $37-$38 price range, which served as a previous breakdown point. Reclaiming this level, according to OxMakeSense, could trigger a "trapped sellers" squeeze. Should HYPE successfully breach the $38 mark, a path opens through a "thin" resistance zone towards the $41-$42 range, with ultimate targets set at $48 and the psychological $50 level, where significant liquidity awaits. The analyst underscores that strong market trends often commence by reclaiming such mid-range levels, a pattern HYPE appears to be mirroring.
Cautionary Warnings Amidst Price Volatility
Despite the bullish projections, not all experts share the same level of enthusiasm. Analyst Crypto TXH has voiced concerns, noting that HYPE failed to sustain the $35.8 level, instead establishing temporary support near $28.5. Currently, HYPE is testing the $35.8 mark from below, treating it as a resistance point. A failure to overcome this barrier could trigger another pullback, potentially retesting the $28.5 support zone with greater conviction. Further amplifying the cautious sentiment, market expert Ali Martinez indicated that a re-entry into the breakdown zone could see HYPE revisiting the $25 level, suggesting a possible short-term retracement of approximately 28%. These divergent analyses highlight the inherent volatility of the cryptocurrency market, urging investors to meticulously assess both upward potential and potential downside risks.
