HYPE Breaks Out Above $38.04 With $50.62 Now in Bullish Sight

  • HYPE broke out from a triangle pattern, pushing past $38.04 with strong momentum and minimal upper wick resistance.

  • Experts highlight $35.08 and $38.04 as key support zones driving bullish continuation toward the $44–$50 price range.

  • The 50-day EMA on KuCoin's daily chart confirms trend strength, with two clean bounces fueling a 13.59% price surge.

HYPE continues to trade in a bullish structure following a confirmed breakout from a key triangle formation. Experts identify strong support zones, continuation signals, and new price targets as momentum remains positive.

$HYPE formed a symmetrical triangle between May 27 and June 9, with the price ranging between $32.50 and $38.04. This pattern compressed with lower highs and higher lows, signaling a possible breakout setup. On June 10, the price moved above the triangle's resistance trendline with strong upside momentum.

Tracking this development, Robert Mercer has provided additional insights based on Bitget’s 6-hour chart. He noted that $32.50 acted as a repeated support level with long wick rejections. This area served as an accumulation zone before the breakout took place.

Source: (X)

According to Mercer, the breakout candle surged past $38.04 and reached $40.83, showing aggressive buyer activity. The bullish breakout was confirmed by follow-through candles with minimal upper wicks and strong body formations. Mercer emphasized the lack of bearish divergence or reversal patterns post-breakout.

The pattern prophet identified resistance levels at $44.00, $47.17, and $50.62, calling them near-term magnet zones for price. These levels are based on prior structure and Fibonacci targets from the consolidation base. Mercer highlighted that the $38.04 support must hold to avoid a deeper correction to $36.00 or even $32.50.

EMA Setup Reinforces Upward Pressure

A separate analysis using moving averages offers a comparative look at short-term price support and momentum. The daily chart indicates clear trend continuation as the price respects key technical levels.

Using KuCoin chart data, BATMAN has presented an EMA-based continuation pattern. He observed two successful retests of the 50-day EMA around $35.081 between May 30 and June 6. Each retest led to bullish engulfing candles, confirming renewed buying pressure.

Source: (X)

The analysis noted a 13.59% single-day gain after the second bounce, with the price pushing from below $36.60 to a high near $39.151. BATMAN explained that the candles lacked upper wicks, indicating buyers maintained strong control. The expert expects the $41.000 level to be tested next if the price holds above $39.151.

BATMAN believes the pattern reflects institutional activity, supported by back-to-back bullish candles and the absence of major pullbacks. This setup reinforces the bullish momentum established in early June.

Final Outlook on $HYPE

Analyzing current price action and historical behavior, both analysts present a bullish case for HYPE. The symmetrical triangle breakout and EMA retests suggest trend continuation if the price remains above support. Critical levels to watch include $38.04 for defense and $44.00 for breakout confirmation. Analysts are bullish on HYPE, citing strong structural support, momentum breakouts, and upward trend signals as key drivers.

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