Heres why Hyperliquid price rallied over 20% today
WikiBit 2026-01-27 19:26
Hyperliquid (HYPE) price went parabolic on Tuesday, driven by a surge in commodities trading volume on the platform. Summary Hyperliquid price rose nearly
Hyperliquid price has confirmed a falling wedge pattern on the daily chart — Jan. 27 | Source: crypto.news
The MACD indicator had completed a bullish crossover, which is considered a common trend reversal signal. Simultaneously, the RSI has bounced off neutral levels to 60, which confirms renewed buyer interest while suggesting the rally has room for growth before hitting overbought territory.
Hence, HYPE price would likely continue to see sustained upside toward the $40 target. This level is calculated by projecting the height of the preceding pattern onto the breakout point. Notably, this target sits approximately 48% above current prices and converges with a major psychological resistance level.
On the contrary, a drop below last weeks low of $20 seen would invalidate the bullish forecast.
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