Hyperliquid (HYPE), Storming Towards $100..."Resistance Itself Has Disappeared"

▲ Hyperliquid (HYPE), US/AI-generated image

Decentralized derivatives exchange Hyperliquid (HYPE) has broken its all-time high, entering a price discovery phase. With a highly optimistic technical structure, three trend continuation scenarios have been presented to determine the future direction of its price.

According to U.Today on September 21 (local time), HYPE recently reached a new historical high by raising its intraday peak. Combined with increased on-chain activity and strong buying pressure, it is steadily maintaining above the major daily moving averages.

The first scenario identified by experts is 'Direct Price Discovery'. If the $96 level is stably broken upwards, it could immediately test the $100 level. As it has entered a zone where historical resistance does not exist, the psychological round number of $100 is emerging as a key target, according to analysis.

The second scenario is 'Consolidation'. To cool down the technical overheating of the Relative Strength Index (RSI) and short-term momentum indicators, a period of pause and sideways trading may continue within a certain range. If selling pressure near the peak is stably absorbed and energy is accumulated, a solid foundation for further upside will be established.

The third scenario is 'A More Thorough Test' of deeper support levels. If the $90 level, which acts as short-term support, breaks down, a retracement to the previous breakout area of $85-$87 could occur. If even that support is breached, it would seek a rebound in the next major support zone of $80-$82.

Having broken its all-time high, Hyperliquid is weighing a breakthrough of $96 based on strong momentum. Market attention is focused on whether it can settle at the symbolic round number of $100 after a short-term pause and successful defense of support levels.

[Article Summary]

-Hyperliquid (HYPE) has broken its all-time high, completing a bullish technical structure.

-The first scenario is a direct move to $100 after breaking $96; the second is a sideways consolidation to cool down overheated indicators.

-The third scenario is a retest of the $85-$87 and $80-$82 support levels if $90 is breached.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*