Hyperliquid’s HYPE token has fallen into a key price range after a recent pullback, with traders watching whether it can regain upward momentum.
Crypto analyst Michaël van de Poppe said on X that the token remains relatively strong compared with parts of the broader market, despite recent volatility. He pointed to a key resistance level that HYPE would need to break to signal a potential recovery.
“There’s clearly an important resistance level to break for $HYPE,” van de Poppe wrote. He added that if Bitcoin enters a consolidation phase, stronger altcoins could begin to recover, with HYPE potentially among them.
Source: X
Van de Poppe’s chart shows HYPE trading in the mid-$50 range after pulling back from a recent high near $75. The token’s rally accelerated in late May and early June before losing momentum as sellers stepped in and profit-taking increased.
The analyst pointed to a potential support area between $47 and $53, with a deeper level near $44.80, where previous resistance may now be acting as support. He said holding these levels would be important for the token’s recent trend structure.
On indicators, the moving average continues to slope upward, suggesting the broader trend remains intact. At the same time, the Relative Strength Index has eased from overbought territory following the earlier rally.
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Analyst Altcoin Sherpa said Bitcoin’s direction is likely to influence Hyperliquid’s near-term price action. He noted that a move above $57 on higher-timeframe charts would be a positive signal for HYPE, while further declines toward the low-$50 or high-$40 range remain possible.
Sherpa also said Hyperliquid has outperformed a number of altcoins this year and drew comparisons between its community engagement and earlier stages of tokens such as LINK and XRP.
Source: X
Separately, Tony Research pointed to the formation of an inverted head-and-shoulders pattern following HYPE’s pullback into the $56–$60 range. The analyst said the setup could support a short-term move toward $65–$70, although he cautioned that the move may not represent a full trend reversal.
Tony Research added that a weaker outcome could see prices revisit the $38–$48 area if the pattern fails to hold. HYPE has recently traded within a tight range as buyers defend key support levels, while broader sentiment remains tied to Bitcoin’s direction.
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