HYPE Holds $28 Strong, Massive Move Ahead?

 Key Insights:

• HYPE trades above $28 support after breaking a long-term descending trendline on the daily chart.
• Analysts monitor the $26–$27 retest zone as multi-timeframe support aligns on daily and 4H charts.
• Major resistance stands at $58–$60 as traders assess potential continuation toward previous highs.

Hyperliquid (HYPE) traded at $29.85 at the time of reporting. The token recorded $297,208,838 in 24-hour trading volume. It gained 0.8% over the past 24 hours but remains down 8.6% over the last seven days.

Price continues to hold above the $27–$28 range. This level acted as resistance in prior sessions before price moved above it. A market analyst wrote that HYPE “flipped $28 into support” and stated that the structure is bullish with “$60 in focus.” Current price action shows buyers defending this area.

Daily Chart Shows Break in Downtrend

On the daily chart, HYPE moved above a long-term descending trendline. That trendline had limited upward movement for several months. The breakout marked a change in structure on the higher timeframe.

The $27–$28 zone has served as both resistance and support in the past. Recent candles show consolidation above this area. A higher low has formed near the same range. As long as price stays above $27, the current structure remains intact. A close below that level would shift attention to lower support areas.

4H Chart Points to Possible Retest

On the four-hour timeframe, HYPE rallied into the low-to-mid $30 range before pulling back. The retracement brings price closer to the $26–$27 area marked on the chart. This zone aligns with the daily support level.

Another trader stated that they are “still waiting for a retest of Green ($27–$26)” due to the alignment between daily and 4H levels. A move into this range followed by a bounce would confirm the breakout. A failure to hold this zone could lead to further downside pressure.