Hyperliquid’s native token, HYPE, has become the focus of the market again with its strong recovery after the low levels in the first part of the year. The latest technical outlook shows that the asset maintains its long-term bullish nature and the price is approaching the $70 region, which is considered a critical threshold.
Ascension structure is preserved
According to the technical analysis shared in the market, HYPE reversed its direction after receiving a reaction from the strong support area between $20 and $25. This region stood out as the area where the decline ended after a few months of weakness and a clear turning point occurred in the price structure.
Following this recovery, the token exhibited an uptrend, forming higher lows and higher highs on both the daily and four-hour charts. In the technical view, this structure is considered one of the main elements indicating that buyers maintain control at certain intervals.
The recent price action took HYPE to the previous weekly high of $68 and just below the previous daily high of $70.31. This region is observed on the chart as one of the most important areas where buyers and sellers come face to face.
Channel structure and critical resistors
On the four-hour chart, it is stated that HYPE has been trading in an upward sloping channel for months. After the breakout from the mid-$40 region, demand continued to push the price up again during retreats. The lower band of the channel served as support in the attempts of a sharp decline.
In the current outlook, the $70 area stands out as a decisive technical area. If the price maintains its permanence in this region, eyes in the market can be turned to the liquidity area between 75 and 80.09 dollars. In the analysis, it is stated that the last rise encountered resistance in the 76 to 77 dollar band and the structure formed here is watched as the next target area.
Support zones are closely monitored
The daily chart shows that the recovery from the January lows is remarkable. It is stated that after exceeding the 50 dollar level, the price rose to the range of 75 to 78 dollars, but profit sales started in this region. Despite this, the overall technical structure is still considered supportive for buyers.
The $65 to $66 range stands out as the first support zone in possible downward movements. Below this, the $61 level and the lower border of the ascending channel can be followed. In the broader view, the $47 to $50 band is considered the base area of the current uptrend, while the $40 to $43 range is considered a strong demand area.
Hyperliquid is known as a cryptocurrency platform focusing on decentralized derivative transactions. HYPE is the native token of the ecosystem.
The evaluations in the news are market analysis and price projections. While it is known that cryptocurrency markets contain high volatility, it is often emphasized that technical levels alone do not provide definitive results.
