Hyperliquid (HYPE) is currently undergoing one of the most dynamic phases of its recent price development. Over a period of less than three days, the token has entered a sharp upside move, rising by nearly 60% since Monday.

Price action is now stabilizing around the $34 level, where a major resistance area is present. This zone is likely to influence whether the current advance can extend further or whether a corrective phase may emerge. This analysis reviews the key technical levels to assess the possible continuation or consolidation of the move.

HYPE technical analysis

HYPEUSD - 1 Day Time Frame

Over the past several days, HYPE has been in a pronounced uptrend, gaining close to 60% since Monday and currently trading near $34. This price area coincides with a strong resistance zone between $33.37 and $35.36. Within this range, the volume point of control of the previous range (vPOCr) is located at $33.54, while the Fibonacci 0.5 retracement level sits near $35.33. Price is currently holding within this resistance zone, though the possibility of a pullback remains present given the speed of the prior move.

The first notable support lies at the Fibonacci 0.382 level around $31.83. In the event of a shallow correction, this area could attract renewed buying interest. A deeper retracement could bring price toward the Fibonacci 0.236 level at $27.51. Failure to hold this level would suggest the potential for a more pronounced decline, with the next significant daily support zone located between $21.64 and $23.42. Market reactions around the 0.382 and 0.236 Fibonacci levels are likely to be particularly informative for assessing short-term structure.

HYPE price target

If HYPE is able to sustain its momentum and eventually move above the Fibonacci 0.5 level, attention would shift to the next major resistance zone directly overhead. This zone is situated between $37.17 and $39.12 and represents a key technical barrier, as it overlaps with the vPOCr at $38.71 and the Fibonacci 0.618 level at $38.83.

Should price action establish acceptance above this resistance area, further upside could become possible. In that scenario, the next level of interest would be the Fibonacci 0.786 retracement at $43.81.

Beyond that, another notable level is the vPOCr near $47.87. This level marks a prior rotation zone from late October 2025, which preceded a sustained downtrend that persisted until the current breakout phase. Reactions around these higher levels would be critical in evaluating the durability of any continued advance.