HYPE, the native token of the Hyperliquid decentralized futures platform, has rallied from $20 at the start of the year to reach $43. The surge has drawn renewed attention from leading cryptocurrency traders, whose technical analysis now highlights HYPE’s upside potential. On-chain data and growing trading activity have reinforced a bullish sentiment for the platform, which is experiencing increased volume and wider user engagement in recent months.
Technical pattern signals bullish scenario
Veteran crypto analyst HypeDojo has forecast that HYPE could hit $75 by the end of June, citing the emergence of an ascending triangle formation on the daily chart. The pattern is marked by price consolidation just below a horizontal resistance level, alongside a series of higher lows—signaling that buyers continue to step in and support upward momentum.
Describing recent price action, HypeDojo emphasized: “Having previously set higher lows below $39, HYPE has strengthened its bullish scenario; now, the triangle pattern points to a $75 target.”
Nevertheless, some market participants caution that the current movement may represent a rising wedge, suggesting that if momentum fades near resistance, there could be a risk of a failed breakout. Still, the consistent uptrend on the weekly chart indicates that buyers are solidifying their presence in the market.
$60 emerges as key resistance for traders
Analyst VikingXBT, who entered a long position near $36 in April, considers HYPE’s long-term chart one of the industry’s strongest. According to VikingXBT, the token’s recovery from the $20-25 range in early 2024 back to the $40 band is a key indicator of strength. Following a correction after surpassing $60 during 2025, renewed upside expectations have begun to take shape.
VikingXBT believes that, if current momentum is maintained, HYPE could reclaim the $60 mark. He also draws attention to Hyperliquid’s increasing popularity among decentralized derivatives platforms and to its evolving trading infrastructure as drivers of the token’s appeal.
Launched after 2023, Hyperliquid has distinguished itself in the on-chain futures market, notably through rising trading volume and an expanding user base. These trends have cemented HYPE’s status as one of the most watched exchange-based crypto assets in the sector.
Key indicators and critical price levels
Technical indicators tracked on TradingView currently show short-term volatility, but the overall outlook remains positive. The platform rates the HYPEUSDT pair as a “strong buy” on both weekly and monthly timeframes, a view that mainly hinges on the alignment of moving averages.
Brave New Coin’s latest pricing puts HYPE at approximately $42.40, reflecting a 1.04% decline in the past 24 hours.
Major oscillators like the Relative Strength Index (RSI), MACD, and Williams %R are now neutral, indicating that the token is not currently in overbought territory. Meanwhile, medium- and long-term moving averages remain below the current price, which analysts interpret as continued support for a bullish trend.
Investors are closely monitoring the psychologically significant $50 resistance. A sustained move above this level could set $60 as the next objective, with $75 then coming into focus. On the downside, the $37-39 range stands out as a critical support zone.
Risks and breakout triggers ahead
In the near term, HYPE is trading within a narrow range, fueling investor anticipation for a decisive breakout. Analysts believe confirmation of the next leg higher will require a clear move above $50; failure to do so may see the price fluctuate sideways between $40 and $44, with intermittent profit-taking likely.
Market experts point out that ongoing volatility in the broader crypto landscape is closely linked to price action in HYPE, so sudden swings remain possible. While the outlook remains positive, industry professionals advise caution given the token’s inherently risky profile.
