🚨🥰🚀$HYPE ,,The cryptocurrency market is facing uncertainty, with a spotlight on Hyperliquid (HYPE). After a strong rally, HYPE is now testing a critical resistance level. What lies ahead for Hyperliquid amidst these challenging times ?🎟️
🚀🎟️Hyperliquid Cryptocurrency Faces Critical Zone🏌️
👉From a technical standpoint, the bullish progression of Hyperliquid appears to have reached a point of exhaustion. The price is now hitting a resistance zone around $41.55, where several significant technical elements converge🗾
📣🎟️This level corresponds to a previous peak, thus acting as historical resistance.
It coincides with the 0.618 Fibonacci retracement, commonly known as the “Golden Pocket,” a zone renowned for its importance in market movements.
The bullish momentum is slowing down, suggesting a possible consolidation or correction phase.🏌️
📣🎟️ABC Corrective Structure Forming ?
Given this technical configuration, analysts are identifying the beginnings of an ABC-type correction structure. This pattern, characteristic of corrective movements, suggests that the bullish impulsive movement has reached its conclusion, giving way to a retracement phase.🚨If this hypothesis is confirmed, Hyperliquid could retrace part of its recent gains, with a first support target around $26.53. This level corresponds to both a historical support, a strong liquidity zone, and the next Fibonacci level below the current price.📣
📣Although this correction might be perceived as a sign of weakness, it would actually represent a healthy movement, allowing momentum indicators to reset and offering an accumulation opportunity for investors. More importantly, it could liquidate the support at $30, below which numerous long position stop losses are placed.
📣Outlook and Conditions to Monitor for Hyperliquid
📣For traders, the key will be to carefully monitor price behavior around the $41.55 zone. If buyers fail to recapture it convincingly with substantial volume, the path will be open for a pullback toward $26.53.
📣HYPE will also need to move above its Ichimoku cloud by breaking through the resistance at $40.5, which would be a good start.
📣Conversely, a bullish breakthrough above this critical level could revive momentum and pave the way for a new upward phase. In this scenario, investors should monitor the next resistance lev📣🎟️🏌️#hype #OneBigBeautifulBill
