As the broader market recovers, Hyperliquid (HYPE) reported a strong reversal with a bullish breakout, attracting widespread attention.
Following the move, bold predictions surfaced for X, while experts noted that HYPE could open the door for further upside. At press time, HYPE’s price had increased by 4.75% over the past 24 hours, trading at $30.30.
During this period, significant market participation was also seen, with trading volume increasing by 14.5% to $207.95 million, suggesting that traders and investors may be interested in the current trend.
HYPE Price Action and Bold Prediction
A crypto expert recently shared an article on X featuring Arthur Hayes, former CEO of BitMEX, making a bold prediction. Hayes revealed his plans to purchase more HYPE tokens, estimating that the asset could reach $150 by July 2026.
This ambitious goal quickly went viral on X, sparking widespread debate on the platform.
Source: X/KookCapitalLLC
Looking at the four-hour chart of HYPE, the asset appears to have recently broken out of a descending triangle pattern and appears poised for a potential upward move.
Based on current price action, if HYPE stays above the key support level of $29, it could see a 20% price rally and could reach $36 in the coming days.
Source: TradingView
However, the bullish thesis would be invalidated if the price falls below $28 and closes a four-hour candle below that level. If this happens, a strong sell-off could ensue.
At press time, the average directional index (ADX), an indicator that measures the strength of an asset’s trend, stood at 12.26, which was below the key threshold of 25, indicating weak directional strength.
Meanwhile, the Relative Strength Index (RSI) reached 57.97, suggesting that the asset remains below the overbought territory and still has room to continue its upward momentum.
Trader Bets Reinforce HYPE’s Bullish Structure
With the current market structure, it appears that intraday traders are closely following the trend.
Data from derivatives analytics platform CoinGlass reveals that traders are currently overleveraged at $28.32 at the bottom and $30.92 at the top.
At these levels, they have built approximately $14.49 million in leveraged long positions and $4.70 million in leveraged short positions, indicating that the bulls are currently dominating the asset.
Source: CoinGlass
Another metric currently reinforcing HYPE’s bullish outlook is its DEX volume and revenue growth over the past couple of days.
According to DeFiLlama, since February 14, 2026, protocol revenue and DEX volume have increased from $941.78K to $1.73M and $57.59M to $95.31M, respectively, indicating a sharp increase in user activity and on-chain engagement.
Source: DeFiLlama
This notable rise highlights growing network demand and commercial participation, which could further support HYPE’s positive price momentum in the near term.
Final summary
- HYPE has broken out of a descending triangle pattern, with price action suggesting another 20% upward move could be on the horizon.
- Intraday traders also appear to strongly support HYPE’s bullish outlook, having placed $14.49 million in long positions versus $4.70 million in short bets.
