HYPE Reversal? Key Chart Level Could Trigger $45 Surge

• HYPE rebounded from $28 and now trades above $30, a key level tied to trend direction.
• The chart shows a double bottom near $22, signaling strong support and renewed buyer interest.
• Traders are watching $30 closely, with volume needed to confirm continuation toward higher resistance levels.

Hyperliquid (HYPE) was trading at $32.37, showing a slight rise over the last 24 hours. The token has gained nearly 42% in the past week. After reaching $34, the price dropped to $28 before bouncing back to the current level.

This move followed a clear reaction at the $22 support zone. A double bottom pattern formed there, which often points to buyer interest. The rebound was led by a strong upward candle that brought the price back to a key resistance area.

Key Resistance Being Tested

At this stage, the $30 level has become important. The price is moving around it after testing a downward trendline that has held since earlier highs. Previous rallies failed at this trendline. Now, price action is pressing against it with more strength. One observer said,

HYPE Reversal？ Key Chart Level Could Trigger $45 Surge 4

Source: THEDEFIGURU/X

The $30 level also lines up with the 0.786 Fibonacci retracement. If price stays above it, the next marker is near $35 at the 0.618 level. A break beyond that could lead to a move toward $45. For now, the market is waiting for a clear signal.

Outside Conditions Play a Role

At the same time, the earlier drop from $34 followed wider moves in gold and Bitcoin. These shifts may have affected short-term confidence. One post noted,

“This is perfectly normal considering the latest news related to gold and Bitcoin.”

Despite the pullback, trading activity remains high. Over $840 million in volume has moved through HYPE in the last 24 hours. The structure still shows early signs of strength, but traders are watching closely for confirmation.

Airdrop and Future Outlook

Another factor is the upcoming airdrop. Some believe the team may want the price to stay lower before that event. One user commented,

At the same time, there is growing talk of HYPE moving into the top 10 crypto assets by market size. While no breakout is confirmed yet, the setup is clear. Traders are watching for a strong move above resistance to confirm the shift in direction.