The DEX token Hyperliquid [HYPE] has rallied nearly 20% from its weekly low, rebounding from a key demand zone. Technical analysis indicates the token maintains a bullish market structure on multiple timeframes, with critical support levels remaining untested by sellers. The upcoming week’s price action may present a potential buying opportunity if the token retraces into a specific Fibonacci zone.
The Hyperliquid token HYPE showed significant bullish momentum in recent trading. After dropping to a low of $25.63, the asset rallied by 19.73% from that level. The pullback to the $25 demand zone was previously identified as a potential buying opportunity.
Critical warning levels for long positions remain untouched. A move below $23.4 and then $20 would signal a shift, but bears have not reached these prices. The longer-term price action for HYPE continues to exhibit a bullish bias overall.
Analysis of the daily chart noted a bullish swing structure shift in late January. The subsequent retracement found support at the 61.8% Fibonacci retracement level before an internal structure break occurred.
“The price action was aligning with the bulls,” the analysis stated. This was seen as a time to buy, even as some daily timeframe indicators reflected a neutral or bearish bias.
On the shorter-term hourly chart, the swing structure is also bullish. The price has receded from local highs near $31, with analysts mapping a “golden pocket” Fibonacci zone between $27.27 and $28.17.
“A retest of this region would present an ideal buying opportunity,” according to the technical assessment. The next projected price targets for HYPE are $38 and $42.
A drop below $26.1 would invalidate the short-term bullish setup. The analysis expects the upcoming week could see a retracement into the Fibonacci golden pocket followed by a bullish reaction.
