Hyperliquid’s HYPE token staged a strong breakout on Saturday, continuing a trend that started in January when it bottomed at $20. It surged to a record high of $67, and a combination of strong fundamentals and technicals points to an eventual surge to $100.
HYPE Price Has Formed a Multi-Month Cup and Handle Pattern
Hyperliquid’s token has slowly formed the highly bullish cup & handle pattern, meaning that it has more upside ahead. This cup started forming in September last year when it hit its then all-time high of $59.45. It then made a slow recovery and eventually bottomed out at $20.
Since then, the coin has slowly completed the second half of the cup. It then formed a small handle in May and made a strong bullish breakout. Subtracting the lower side of the cup from its upper side gives it a depth of $40. Adding this amount to its upper side gives it a target of $100.
HYPE price chart | Source: TradingView
Hyperliquid Has Become The Biggest Player in the DeFi Industry
For a long time, protocols like …
