Hyperliquid (HYPE) has made a significant breakthrough in the crypto sphere, surging over 17% in 24 hours. Breaking a key resistance at $22.63, the token shows a strong bullish momentum, signaling a potential new trend in the market.
Written by Grings - Last updated on 01/15/2025 at 10:25 by Grings
The cryptosphere is currently buzzing following the recent sharp correction that saw Bitcoin (BTC) drop to $89,216. Today, BTC has rebounded by over 4% to trade above the $96,000 mark.
At the core of this market recovery, Hyperliquid (HYPE) is notably drawing attention with an impressive 17% surge over the last 24 hours.
HYPE has successfully broken out of a long-term descending triangle pattern that had constrained its movement in recent weeks. Earlier today, the token bounced strongly from its support at $19, breaking the upper triangle resistance at $22.63.
This breakthrough propelled the price to $23.08, bringing it into a crucial horizontal resistance zone between $22.63 and $24.
If HYPE manages to maintain this upward momentum and successfully surpass the $24 resistance, it could pave the way for further upside. The next resistance levels to watch are $26, $29, and $35, representing a potential gain of up to 51% from the current resistance zone.
The solid recovery of Hyperliquid and its technical breakthrough make it a serious contender for significant gains, provided the overall market remains favorable.
For HYPE, sustaining above $24 and testing higher resistance levels could attract new investors, fueling a rise in its price.
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Graduated in Finance, Hugo, also known as 'Grings', is passionate about the cryptocurrency market and the opportunities offered by blockchain technology. Thanks to his technical background and informative approach, he is capable of writing simple articles on complex subjects.
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