Key Takeaways
- Price is consolidating after an impulsive recovery.
- Wave 4 correction is expected before the wave five breakout.
- The $23–$24 zone is critical for holding the structure.
After completing a complex corrective pattern, Hyperliquid (HYPE) is in a confirmed uptrend. The lower timeframe shows an impulsive structure supported by wave analysis.
The 4-hour chart shows a 174% recovery from a downward WXY correction and a current consolidation around key Fibonacci levels.
The 1-hour chart provides a granular Elliott Wave roadmap, suggesting an imminent breakout following a corrective triangle.
More upside is expected,d but larger consolidation might be starting soon.
HYPE Price Analysis
The higher timeframe chart shows a textbook Elliott Wave progression with a clear five-wave advance followed by a W-X-Y corrective structure, which bottomed at $9.45 on April 7.
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The rebound broke out of the descending channel and reclaimed key Fibonacci levels, confirming bullish momentum.
HYPE is consolidating just above the 0.618 Fibonacci retracement ($25.38), a typical area for temporary resistance before continuation.
Notably, price is holding above the previous support-turned-resistance zone ($22–$25), which has now flipped back into support.
The Relative Strength Index (RSI) shows a bearish divergence, signaling weakening momentum that often precedes a short-term correction.
It currently sits around the mid-point of 50%, suggesting room for upside and downside.
However, the macro structure favors further upside, supported by the recent rally’s impulsive nature.
The price structure suggests that the market has completed its correction and is in a new impulsive wave sequence targeting higher resistance zones.
Despite the slight bearish divergence and the 174% increase since April 7, there are no signs of a downturn.
The 0.786 level at $29.71 is the next significant target, followed by $35.23, revisiting its all-time high.
HYPE Price Prediction
On the 1-hour timeframe, we see the internal structure of wave 3 developing, with subwaves (I) through (IV) complete and (V) currently in progress or just forming.
The projected path includes a short-term move toward $29.5–$32 to complete wave 3.
This should be followed by a wave 4 correction, likely unfolding as a triangle (ABCDE) and retracing toward the $23–$24 region.
After this expected correction, an intense final wave five push could take HYPE toward the $32–$35 zone, aligning with the macro resistance levels noted in the higher timeframe.
The triangle scenario for wave four is supported by decreasing RSI momentum, lower highs on price, and flattening volatility, all typical of a contracting range before a breakout.
Key Fibonacci levels around $23.18 (0.786 retracement of wave 3) and $24.81 (1.0 extension) should be strong support.
If the price exceeds this range during the correction, it confirms bullish structure integrity and sets the stage for the final impulsive move.
A breakdown below $23 would invalidate the triangle and suggest a deeper correction.
Bullish continuation remains the primary scenario as long as the $22.8–$23.2 zone holds during wave 4. The next impulse should target the $32–$35 zone, completing a clean 5-wave cycle.
Key Levels to Watch
Support:
- $23.18 (0.786 Fib),
- $24.81 (wave 4 target).
Resistance:
- $29.54 (1.618 Fib),
- $32.47 (2.0 Fib),
- $35.23 (macro wave 5 target).
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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