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Last week, Hyperliquid (HYPE), the homegrown token of one of the booming decentralized exchanges (DEXs), dipped below the $30 mark, but guess what? It has bounced back 2% this Thursday! This positive move puts HYPE in a great position to ride the wave of recovery that’s been lifting leading cryptocurrencies back to crucial levels.
Is HYPE Ready for a Comeback?
Market analyst OxMakeSense has pointed out a promising path for HYPE to reach $50 in the near future, which is just a stone’s throw from its all-time high of $59! This suggests that exciting changes are on the way for the token. He mentions there’s a treasure trove of untouched liquidity waiting at the upcoming levels, which could help HYPE climb higher.
After facing a month of pressure, it looks like the asset has made its first solid rebound. OxMakeSense believes this indicates that selling pressure is starting to ease, and market excitement is gaining momentum.
He also flags a critical price zone for Hyperliquid in the $37–$38 range. This is where the last breakdown happened. If HYPE can reclaim this level, it might set the stage for a squeeze on those who are still trapped in their positions.
Plus, if it manages to get past the $38 mark, it could open the door for a jump straight to the $41–$42 area, which is less crowded with resistance from previous sell-offs.
Analyst Warns of Possible Drop to $25
In his analysis, OxMakeSense highlights that the pivot point for momentum is at a key level of $44. He mentions that strong trends often kick off when these mid-range levels are reclaimed.
If HYPE can flip this resistance into solid support, things could accelerate quickly! Above $44, HYPE would likely follow a clearer path, eyeing targets at $48 and ultimately reaching for that $50 mark, where a lot of untouched liquidity resides.
But not every analyst is filled with cheer. Analyst Crypto TXG has raised some flags about HYPE’s recent performance. He mentioned that it lost the important $35.8 level, hitting a temporary low around $28.5.
While HYPE is trying to shift the tide, it’s currently bumping up against the $35.8 barrier from below. If it can break through this resistance, the next goal will be $42.3. On the flip side, if it gets stuck at $35.8, we might see another dip, possibly testing that $28.5 support again.
Adding to the cautious atmosphere, market expert Ali Martinez has warned that if the token goes back to the breakdown zone, it might revisit the $25 mark. This signals that, despite the recent bounce, a short-term dip of around 28% could be looming on the horizon.
Featured image from DALL-E, chart from TradingView.com
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