Hyperliquid’s HYPE token is trading near $38.74 after a period of consolidation, according to market data. Technical analysis indicates the price is compressing within a symmetrical triangle pattern, with volatility declining as it approaches a potential breakout. Traders are closely monitoring the $40 resistance level for a signal of the asset’s next directional move.
The price of Hyperliquid (HYPE) is currently trading at $38.74 with a 24-hour trading volume of $122.48 million. Over the past week, the asset’s price has increased by 1.67%, though it declined by 2.93% in the last day.
Analyst Alpha Crypto Signal pointed out that HYPE’s price action is compressing inside a symmetrical triangle. This pattern, characterized by lower highs and higher lows, suggests market equilibrium is holding before a potential directional expansion.
“Volatility continues to decline, signaling that a major breakout move is building beneath the surface,” the analyst noted regarding the tightening price action. A confirmed breakout above the $40 resistance level would signal a bullish continuation for the asset.
According to data from TradingView, the asset has moved below its 20-period and 50-period Exponential Moving Averages (EMAs). It is currently finding support near its 200-period EMA as it enters a consolidation phase.
The Bollinger Bands indicator shows a significant squeeze, with price contained between the 100-period EMA at $38.30 and a midline at $39.10. A break above the upper band at $40.18 or below $36.21 could indicate the next trend direction.
