Hyperliquid (HYPE) Price Prediction: HYPE Holds Strong Above Key Support While Traders Watch $60 Target

The token has recently hovered in the high-$40 to low-$50 range, recovering from short-term volatility and maintaining a broader upward structure despite uncertainty across the wider crypto market. Market observers say HYPE’s ability to preserve key technical levels could play an important role in determining its next directional move.

HYPE’s Price Holds Firm as Traders Monitor Key Resistance

Recent market activity suggests that HYPE has stabilized near an important support area between $45 and $47, a region many technical traders view as a recent breakout zone.

Crypto analyst AltcoinSherpa recently argued that Hyperliquid’s token could be preparing for another leg higher. In a market update, he suggested that “$60 is probably next” for HYPE as the token gradually trends upward during a period of broader market uncertainty.

AltcoinSherpa sees HYPE grinding toward $60 near $50, citing strong resilience and low downside risk for long-term holders. Source: Altcoin Sherpa via X

Sherpa also noted that while current prices may not offer ideal entry points for active short-term trading, the risk profile appears more favorable for longer-term holders. According to the analyst, HYPE continues to demonstrate relative resilience compared with many alternative cryptocurrencies.

At the time of analysis, HYPE had recovered toward the $50 mark after posting daily gains of roughly 4%, remaining below its prior peak near $59.

Technical Analysis: HYPE Maintains Bullish Structure Despite Near-Term Resistance

HYPE continues to display a technically constructive setup, even as some exchange-specific indicator dashboards remain incomplete due to temporary data limitations. Broader market signals still point toward a cautiously bullish trend, supported by price structure, momentum, and derivatives positioning.

From a trend perspective, HYPE remains above key short- and medium-term moving averages, reinforcing the ongoing higher-high and higher-low formation visible on higher timeframes. This type of price action is commonly associated with sustained bullish momentum and suggests buyers continue defending important support zones.

HYPE was trading at around $51.62, up 8.36% in the last 24 hours at press time. Source: Brave New Coin

Momentum indicators also support the case for continued upside, though without signaling overheating conditions. The Relative Strength Index (RSI) has generally stayed in the 50–65 range, reflecting steady buying pressure while remaining below traditional overbought territory above 70. This suggests HYPE may still have room to extend gains before momentum becomes overstretched.

The MACD (Moving Average Convergence Divergence) has shown signs of positive momentum in several market analyses, with bullish crossover signals and improving histogram strength indicating buyers remain active. Meanwhile, trend strength indicators such as the ADX have pointed to a strengthening directional move during recent rallies.

On the downside, traders continue to monitor the $45–$47 support region, which aligns with a previous breakout area and demand zone. Holding this level could preserve the broader bullish structure, while a breakdown below support may open the door for a temporary correction toward lower trendline support near $42.

To the upside, immediate resistance remains concentrated between $50 and $52. A decisive breakout above this range—particularly if supported by rising volume—could increase the probability of a retest of HYPE’s previous all-time high near $59. Beyond that level, market participants may begin watching for price discovery and renewed bullish momentum.

Short Squeeze Narrative Gains Attention

Crypto market commentator StrongHedge recently pointed to deeply negative funding rates in HYPE perpetual markets, rising open interest, and whale hedging activity as signs that short sellers could be vulnerable.

According to StrongHedge, traders betting against HYPE have been paying elevated funding costs while long positions continue to dominate cumulative trading activity. Such conditions can sometimes create the environment for a short squeeze, where rapid price appreciation forces bearish traders to close positions.

StrongHedge notes negative funding and rising long pressure in HYPE, signaling potential short squeeze toward $50. Source: $trong via X

Follow-up observations have reportedly shown early signs of short liquidations alongside a gradual normalization in funding rates.

Still, analysts caution that these developments should not be viewed as guarantees of continued gains, as derivatives markets can shift quickly.

Resistance Near All-Time High Remains a Critical Test

Market observers at AltCryptoGems recently noted that HYPE has continued to test resistance without facing meaningful rejection, while buyers remain in control following months of higher highs and higher lows.

However, some technical analysts warn that the token may be entering a high-liquidity premium zone between $46 and $49, where momentum-driven traders could face increased short-term volatility.

A market commentary described the region as a possible premium liquidity trap zone, noting that while the higher-timeframe trend remains bullish, elevated RSI readings and cooling short-term momentum could increase the likelihood of temporary pullbacks before another move higher. 

In other words, HYPE may still be in an uptrend, but volatility should not be ruled out as the asset approaches historically important price levels.

Hyperliquid Price Prediction: Can HYPE Reach $60?

For now, market sentiment surrounding Hyperliquid’s price prediction remains cautiously optimistic.

If HYPE continues holding above support near $45 while maintaining strong trading activity, analysts believe a move toward $60 could remain achievable in the near term. A breakout above the $50–$52 resistance range may improve the odds of revisiting previous highs.

At the same time, traders continue monitoring broader crypto market conditions, including Bitcoin’s direction, trading volume, and macro sentiment, all of which frequently influence altcoin momentum.

As always, technical signals remain probabilistic rather than certain. Investors often combine price action, on-chain activity, and risk management strategies before making trading decisions in volatile digital asset markets.