Hyperliquid (HYPE) Skyrockets—Traders Brace for the Next Move After Parabolic Surge

Hyperliquid (HYPE) just ripped through another resistance level—leaving crypto degens scrambling to decode its next play. The token’s parabolic rally has even the most hardened traders muttering ’wen correction?’

No one’s complaining about gains, though. Unless you sold early—then it’s another tragic chapter in your ’could’ve been a whale’ memoir.

What’s fueling the pump? Speculation’s thicker than a Wall Street prospectus, but momentum’s the only metric that matters right now. Buckle up.

TLDR

• Hyperliquid (HYPE) reached a new all-time high of $39.39 on May 26, 2025
• The token has surged 300% since April 7 lows, with 11% gains in the past 24 hours
• Trading volume has skyrocketed to $570.5 million, with open interest reaching record $1.2 billion
• Technical analysis shows HYPE following patterns similar to Solana’s 2021 breakout
• Wave count analysis suggests the rally may be approaching its final phase

Hyperliquid (HYPE) reached a new all-time high of $39.39 on May 26, 2025. The token has gained 11% in the past 24 hours alone.

The rally represents a 300% increase since April 7 lows. HYPE was trading around $10 in early April before beginning its upward movement.

Trading volume has exploded alongside the price gains. Daily volumes reached $570.5 million on Saturday, up from monthly lows of just $78 million earlier in May.

The platform’s open interest has also hit record levels. Open interest now sits at $1.2 billion, crossing the $1 billion mark for the first time in the platform’s history.

HYPE broke out of a descending parallel channel on May 21. The token closed above the $27.50 resistance level, clearing the way for new highs.

Following the breakout, the rally turned parabolic. The token surged over 50% in under a week to reach its current all-time high.

Technical Indicators Point to Continued Strength

Technical indicators remain supportive of the uptrend. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) continue trending upward.

Both indicators are in overbought territory. However, neither has formed bearish divergences, which typically signal potential reversals.

Analysts are comparing HYPE’s current pattern to Solana’s 2021 breakout. solana jumped from around $4.90 to $19 in under two months during its explosive rally.

HYPE recently surpassed its 1.0 Fibonacci retracement level at approximately $35.88 on May 23. This milestone mirrors Solana’s technical breakthrough before its major rally.

The RSI has entered overbought territory above 84. This reflects the strength of current momentum while also suggesting some caution may be warranted.

Price Targets and Wave Analysis

Wave count analysis suggests HYPE is in the fifth and final wave of its current bullish cycle. This is an extension wave that has already pushed the price to new highs.

In extended fifth waves, the MOVE often mirrors the combined length of waves one and three. Based on this projection, the next potential target sits at $44.65.

Should momentum continue to accelerate, a more ambitious extension could take HYPE as high as $56.70. This represents the 1.618 Fibonacci level.

Technical experts have identified the 1.618 Fibonacci extension level near $51.68 as an immediate target. This WOULD represent about 35% upside from current levels.

A more ambitious target sits at the 4.618 Fibonacci level around $128. This would represent a 240% movement from the current breakout zone NEAR $35.

Platform Fundamentals Drive Growth

The Hyperliquid ecosystem has seen record-breaking activity levels. The platform’s total value locked (TVL) has increased from $254 million in early April to $455 million currently.

DEX volume has surged from April lows of $42.67 million to peaks exceeding $590 million. This indicates rapid growth in the platform’s user base and trading activity.

Approximately 97% of all trading revenue returns directly to HYPE token holders. This creates underlying value for long-term investors.

Recent whale activity has provided additional fuel for the rally. Two large whales purchased tokens worth approximately $10 million at the $34 price point.

The market has witnessed almost $753,000 in short liquidations in the past 24 hours. This compares to about one-third of that amount in long liquidations.

Trader James Wynn closed a $1.2 billion Bitcoin long position and opened a similarly sized short position. This highlights the high-stakes trading activity Hyperliquid supports.

The wave count analysis indicates the rally may be nearing exhaustion. A corrective phase could follow once the current wave completes.