Could Hyperliquid (HYPE) Experience Significant Growth? Important Harmonic Pattern Indicates Possible Upswing

Market Overview: The cryptocurrency market is experiencing a pullback after an initial boost from Jerome Powell's comments about potential rate cuts, with Bitcoin dropping to $111K and Ethereum down by 3.5%.

Hyperliquid (HYPE) Performance: Despite the overall market decline, Hyperliquid (HYPE) is showing resilience, trading around $45.30 due to strong growth metrics and a bullish technical setup.

Harmonic Pattern Analysis: HYPE is forming a Bearish ABCD harmonic pattern, which typically indicates a potential bullish rally before any reversal, with a projected target of $54.42 for further gains.

Future Outlook: If buying pressure persists, HYPE could see a +20% increase towards the $54.42 target, but maintaining near-term support will be essential for sustaining this bullish momentum amidst market volatility.