Hyperliquid is holding above key support as bulls eye a potential breakout towards $100, with momentum and structure aligning for a larger rally.

Hyperliquid continues to command strong attention, with the token hovering near $46 and analysts debating whether it could become the next Solana. Despite recent market turbulence, momentum around HYPE has not faded, supported by both technical structures and a wave of institutional comparisons.

Cathie Wood Compares Hyperliquid to Solana

Market sentiment around HYPE has been supported by positive narratives in the broader crypto space. Bulls argue that consistent liquidity and demand across derivatives have strengthened the case for higher valuations. This confidence has been echoed by Kathy Wood, who highlighted Hyperliquid’s positioning within the rapidly growing decentralized exchange landscape.

The market impact of her comparison has fueled renewed optimism, with many traders positioning Hyperliquid as the “next Solana” narrative heading into 2025.

Hyperliquid Price Prediction: Elliott Waves Point Higher

Uğur mapped HYPE’s structure within a clear Elliott Wave framework, noting that the corrective phase appears to be nearing completion. Price has tested the lower channel and found support, a sign that the setup may be preparing for its next impulsive leg.

Hyperliquid’s Elliott Wave structure signals a potential bullish continuation, with targets extending towards $80–$100 if support holds. Source: Uğur via X

If the $37 to $40 range continues to act as a floor, projections extend toward $80 and even $100. The wave alignment reinforces the view that HYPE’s current weakness could simply be part of a larger bullish continuation pattern.

Breakout Patterns Taking Shape

An inverted head-and-shoulders pattern on Hyperliquid’s chart is starting to appear, a structure that often signals breakout potential. The neckline sits near $46 to $47, and early momentum suggests bulls are attempting to secure a close above this key band.

Hyperliquid forms an inverted head-and-shoulders pattern, with rising volumes hinting at a breakout towards $55–$60. Source: Big Cheds via X

Big Cheds highlights that the volumes have also started to pick up, adding credibility to the setup. If confirmed, the breakout could pave the way towards $55 to $60 in the short term, reigniting the bullish Hyperliquid Price Prediction.

Speculative Model Suggests $100 HYPE Target

Crypto analyst TheTrench shared analysis of HYPE’s broadening channel, a formation commonly seen before parabolic extensions. Price has repeatedly respected the pattern’s boundaries, with the latest rebound around $42 underscoring continued demand.

Hyperliquid’s broadening channel aligns with a speculative model pointing to $70–$100 targets as consolidation fuels momentum. Source: TheTrench via X

If momentum continues, the Livermore speculative structure suggests that Hyperliquid could extend towards $70 to $90 in the medium term, with $100 as a realistic target. This perspective highlights how consolidation may only be building energy for a larger rally ahead.

Final Thoughts

Hyperliquid’s price action continues to showcase resilience, holding above key supports while preparing for another test of overhead resistance. Strong fundamentals, consistent volume, and on-chain activity add confidence to the bullish case.

Hyperliquid’s current price is $47.28, up 6.42% in the last 24 hours. Source: Brave New Coin

If HYPE can reclaim $50 with conviction, the pathway toward $55 and even $60 becomes increasingly likely. However, failure to hold $42 to $44 would expose downside risk, leaving the market vulnerable to a retest of deeper supports. For now, the Hyperliquid price prediction structure suggests that bulls still have the upper hand.