Hyperliquid Price Forecast: Can HYPE Surpass $50?

Current Price and Market Position: The Hyperliquid (HYPE) token is currently priced at approximately $46.37, just 7% below its all-time high of $49.86, as it experiences a consolidation phase with buyers and sellers competing for control.

Technical Analysis: A symmetrical triangle pattern has formed in the HYPE price chart, indicating potential breakout opportunities, with resistance near $50 and support above $41, suggesting a 50% to 75% chance of a significant price movement.

Key Resistance and Support Levels: Immediate resistance is identified at $48, followed by the all-time high at $49.86, while strong support levels are established around $44 and $41.90, with a bearish scenario potentially leading to a retest of $37.50.

Market Indicators: The 9-day simple moving average indicates short-term support at $44.07, and the MACD suggests a bullish trend as it crosses above the signal line, although confirmation through increased trading volume is necessary for sustained momentum.