Hyperliquid (HYPE) Set for Potential Surge to $50: Key Levels Identified

Hyperliquid (HYPE), the native token of a rapidly growing decentralized exchange (DEX), has shown a recovery after dipping below the $30 threshold last week. This Thursday, HYPE gained 2%, putting it in a favorable position to take advantage of the recent upward movement among leading cryptocurrencies that have regained important price levels.

Key Takeaways

HYPE has started to recover, rising 2% after dipping below $30.
Analyst OxMakeSense sees a short-term target of $50, approaching its all-time high of $59.
A crucial resistance level is identified between $37-$38; reclaiming this could trigger a bullish trend.
Concerns about a potential retracement to $25 have been raised by other analysts.

HYPE

HYPE on the Path to a New Rebound

Market analyst OxMakeSense has pointed out a positive roadmap for HYPE to possibly reach $50 in the near term, which is just shy of its all-time high of $59. He notes that the token is beginning to show necessary signs of a major shift. According to him, the upcoming price levels are filled with untouched liquidity that could help HYPE’s rise.

After facing pressure for a month, OxMakeSense believes the asset has recently experienced its first strong rebound, suggesting that the selling pressure is starting to lessen and market reactions are strengthening. He identifies a critical area for Hyperliquid between the $37–$38 price range, a level where previous breakdowns occurred. If HYPE can recover this range, it could trigger a squeeze of "trapped sellers."

Moreover, surpassing the $38 mark would create a clearer path toward the $41–$42 range, which has minimal resistance left from earlier sell-offs.

Analyst Cautions About Possible Retracement to $25

On social media, OxMakeSense explained that the momentum pivot is significantly positioned at $44, stating that strong trends often start by reclaiming mid-range levels. If HYPE can turn this resistance into support, it is expected to gain further momentum. Once it clears the $44 mark, the focus would shift to targets around $48, and eventually towards the $50 level, which houses a significant amount of unclaimed liquidity.

However, not all analysts share this optimistic view. Analyst Crypto TXG has voiced concerns over HYPE’s recent performance, noting its loss of the $35.8 level and establishing a temporary bottom around $28.5.

HYPE The daily chart displays HYPE’s price recovery above the $30 level. Source: HYPEUSDT on TradingView.com

Although HYPE has reversed its trend, it is currently testing the $35.8 point from below, creating a resistance barrier. Should HYPE manage to breach this resistance, the next objective would be $42.3. On the other hand, a failure to overcome the $35.8 barrier could lead to another downturn, potentially retesting the $28.5 support level more decisively.

Adding to the cautious perspective, market analyst Ali Martinez has suggested that if the token does revisit the breakdown zone, it may return to the $25 mark. This implies that despite the recent upward trend, there might be an impending short-term retracement of around 28%.

Featured image from DALL-E; chart from TradingView.com