Crypto trader and analyst Altcoin Sherpa has expressed bullish sentiment on the utility token $HYPE, noting its steady upward trend and potential for a major breakout.
In a tweet shared on May 1, he revealed that he recently opened a small perpetual position on the token, citing strong fundamentals and growing momentum.
Despite uncertainty over how long he will hold the position, Sherpa referred to $HYPE as “one of the best utility coins and projects out there,” and wouldn’t be surprised if it surged to $50—provided Bitcoin and broader market conditions remain healthy.
Chart Signals Renewed Momentum
The accompanying chart shows $HYPE breaking out from a multi-week resistance zone near the $21 level, with increasing volume and consistent higher lows. The breakout area is marked clearly with a horizontal resistance line, which the price has now reclaimed. This suggests a potential shift in trend from consolidation to accumulation.
Should the bullish momentum continue, Sherpa’s ambitious $50 target—more than 2x from current levels—could be in sight.
However, this outlook hinges on favorable trading conditions across the crypto market, particularly Bitcoin’s stability.
The tweet, which has garnered over 7,000 views, reflects growing retail interest in lower-cap altcoins amid the broader crypto market’s bullish undertone.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/crypto-analyst-eyes-50-target-for-hype-amid-steady-climb/