After spending nearly two weeks recovering from its post-rally correction, Hyperliquid (HYPE) is beginning to challenge an area that had previously blocked rebound attempts.
This correction eventually reached $59.73, where the downward pressure began to weaken and buyers began to replenish demand. Since then, HYPE has steadily recovered, trading at $64.97 and recouping a significant portion of June’s decline.
More importantly, the rebound suggests that the market is trying to move from correction to recovery rather than extending the previous sell-off. On the daily time frame, attention extends beyond the recent high of $65.72.
If buyers remain in control, the focus could gradually shift to the broader $70-$79 area that was lost during the correction. Reconquering this zone would strengthen the arguments in favor of a new upward trend.
However, the recovery remains incomplete. The loss of momentum and retracement towards $60.74 suggests that sellers still retain influence over the broader structure.
Can the HYPE bulls recover the June correction?
As buyers gradually regain ground after the June correction, the focus now shifts from the strength of the recovery to the sustainability of the advance.
On the 4-hour structure, price action suggests that HYPE is approaching its first major test since rebounding from the $53.25 support zone, with price near $65.85.
The immediate focus lies on the resistance level at $67.11 and, more importantly, the Fibonacci barrier at $69.41. Offsetting the two would strengthen the recovery narrative and expose the $72-$74 region, where selling pressure had previously accelerated.
However, the path to the top may not be easy. The recent rebound has already generated large unrealized gains, increasing the likelihood of profit-taking as HYPE approaches overhead resistance.
Additionally, the RSI held near 64, hinting at room for further upside before reaching overheated conditions. Meanwhile, the MACD remained firmly positive, suggesting that the bullish momentum has not yet exhausted itself.
If sellers regain control, a pullback toward the $61.40-$58.24 support region would likely represent consolidation rather than a structural collapse. Beyond that, maintaining support would keep the broader target of a return towards $79.40 intact.
Final summary
- Hyperliquid (HYPE) has moved from correction to recovery, but the broader uptrend still requires confirmation above general supply.
- HYPE continues to rebuild lost structure, with the next area of resistance likely determining the sustainability of the recovery.
