HYPE Token Eyes $47 Breakout as Rare Chart Pattern Emerges—Just as Hyperliquid Volumes Explode
Forget ’irrational exuberance’—this is algorithmic traders chasing a textbook setup. HYPE’s price chart flashes a rare bullish pattern while derivatives volume on Hyperliquid screams institutional interest. The $47 target? Straight out of a quant’s backtest playbook.
Pump-and-dump or legit momentum? Either way, the leverage junkies are already piling in. Because nothing fuels crypto rallies like a self-fulfilling prophecy and overcollateralized longing. Just don’t remind anyone what happened the last time ’rare patterns’ met ’surge volume’ in 2022.
Hyperliquid weekly fees | Source: DeFi Llama
The recent surge in volume and fees happened as the crypto bull runstarted, with Bitcoin (BTC) price soaring to a record high on Thursday. Bitcoin’s surge triggered more gains among altcoins.
Perpetual futures have become highly popular in the crypto industry. These futures products resemble those in the stock market, with the only difference being that they don’t have an expiry date. They are popular because they allow traders to use leverage and amplify their returns.
Top companies in the crypto industry have started offering these products. Most recently, Coinbase acquired Deribit to increase its presence in the sector.
HYPE price technical analysis
Technicals suggest that the HYPE price has more gains to go. On the eight-hour chart, the token has formed a cup-and-handle pattern, comprising a horizontal support, a rounded bottom, and some consolidation.
This cup had a depth of about 67%. Therefore, by measuring the same distance from its upper side, the target price comes to $47, which is about 35% above the current level. Such a MOVE will bring HYPE’s market cap to almost $15 billion.
