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Hyperliquid (HYPE) To Rebound? Key Harmonic Pattern Signals Potential Upside Move

Hyperliquid (HYPE) To Rebound? Key Harmonic Pattern Signals Potential Upside Move

CoinsProbe2025/05/31 14:00
By: Nilesh Hembade
HYPE-0.35%

Date: Sat, May 31, 2025 | 05:25 AM GMT

The cryptocurrency market experienced a sharp correction over the past 48 hours, dragging most major tokens into the red. Bitcoin (BTC) briefly dropped to $103K, while Ethereum (ETH) slipped to around $2,500. This sudden move triggered heavy selling in altcoins — including Hyperliquid (HYPE) , which saw a sharp retracement after recent bullish momentum.

HYPE is currently trading in the red but has surged over 125% in the last 60 days, and now a well-known harmonic pattern forming on its chart suggests that a rebound may be on the horizon.

Hyperliquid (HYPE) To Rebound? Key Harmonic Pattern Signals Potential Upside Move image 0 Source: Coinmarketcap

Harmonic Pattern Signals More Upside

In the 2-hour timeframe, HYPE is forming a Bearish Butterfly harmonic pattern — a structure that, despite its name, often leads to further upward movement before reaching a key reversal point.

The formation began after HYPE was rejected at $65.06 (point X), leading to a 13% drop and bottoming around $30.65 (point A). This formed the initial XA leg of the harmonic pattern.

Hyperliquid (HYPE) To Rebound? Key Harmonic Pattern Signals Potential Upside Move image 1 Hyperliquid (HYPE) 2H Chart/Coinsprobe (Source: Tradingview)

From there:

  • AB Leg: HYPE retraced 81.8% of the XA drop — fitting within ideal harmonic parameters.
  • BC Leg: It bounced again, correcting around 93.4% of the AB leg and finding support near $30.89 (point C).
  • CD Leg: The final leg has now begun, with bulls eyeing the 1.272 Fibonacci extension at $36.30 as the primary target (point D).

If this pattern completes, it could trigger a temporary top, but also offer solid opportunities for traders aiming to ride the last leg of the bullish wave.

What’s Next for HYPE?

Currently trading around $31.75, HYPE has room to climb around 14% toward the $36.30 level. If market sentiment continues to improve, and momentum remains strong, an extended move toward the 1.618 Fibonacci level at $37.83 could also be in play.

However, traders should stay cautious. Ethereum (ETH)’s price action remains unstable and could have a ripple effect on altcoins like HYPE. A failure to hold above $30.65 support could invalidate the pattern.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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