Hyperliquid (HYPE) has been consolidating above the ascending triangle formation since its debut on Coinbase on February 5.
The token managed to break out again on May 20, rising explosively to $75 before pulling back and bouncing explosively from the triangle support at $53. As a result, it left behind a market imbalance between $57 and $63.
As of this writing, HYPE was testing the imbalance zone after an aggressive correction. This occurred as it swept away liquidity at the $75 resistance level. The token is currently gaining some bullish momentum and the next target is $77 resistance zone.
Why are investors watching $77?
The trading activity of the Hyperliquid network is particularly aligned with HYPE’s bullish technical structure.
Trading volume has increased significantly over the last four days; This showed investors taking longer positions to take advantage of the projected increase back to the $77 liquidity point.
Liquidity cluster at $77 confirms this is an important target
Looking at HYPE’s liquidation heat map data, several key liquidity clusters total around $10 million and are holding resistance at around $77. These clusters support the price level as an important reference point for a bullish outlook.
In many cases, liquidity clusters act as price action magnets on which prices fluctuate. For EXCITEThe same scenario may come into play.
Buyers and investors have already begun accumulating more positions to target unmitigated liquidation, which remains at resistance level indicated by increased trading volume.
Will HYPE’s upward trend continue?
All technical indicators are consistent with HYPE’s bullish trend.
HYPE is trading above the key Exponential Moving Averages (EMA), increasing the likelihood of the potential uptrend continuing.
At the same time The token’s stochastic RSI is returning from the oversold zone. This action confirms that the current imbalance zone is an important turning point for a potential price reversal.
Final Summary
- HYPE is recovering from a significant market imbalance after defending ascending triangle support, keeping the broader bullish structure intact.
- Increasing trading volume and a $10 million liquidity cluster around $77 are drawing investors’ attention to the next potential resistance zone.
