Hyperliquid [$HYPE] has been consolidating on an ascending triangle pattern since its debut on Coinbase on February 5.
The token managed to break out on May 20 and rebounded explosively all the way to $75 before retracing and explosively rebounding off the triangle support at $53. As a result, it left behind a market imbalance of between $57 and $63.
At the time of writing these lines, $HYPE The imbalance zone was tested after an aggressive correction. This happened as it swept through liquidity at the $75 resistance level. The token is currently building bullish momentum with the next target being the $77 resistance zone.
Why are traders watching $77?
The trading activity of the Hyperliquide network is aligned in particular with $HYPEThe bullish technical structure of.
Trading volume saw a significant increase over the past four days, highlighting that investors were taking more long positions to capitalize on the expected return to the liquidity point at $77.
Liquidity Cluster at $77 Affirms This as a Key Target
Zoom down $HYPEAccording to liquidation heatmap data, several large liquidity pools totaling $10 million are at resistance around $77. These clusters support the price level as a crucial reference point for a bullish outlook.
In most cases, liquidity clusters act as price action magnets on which prices oscillate. For $HYPEthe same scenario could come into play.
Buyers and investors have already started accumulating more positions to target the full liquidation at the resistance level, as shown by the increase in trading volume.
Will $HYPEDoes the bullish structure hold?
All technical indicators are aligned with $HYPEThe bullish bias of.
$HYPE is trading above key exponential moving averages (EMA), increasing the likelihood of a potential continuation of an uptrend.
At the same time, The token’s stochastic RSI is only bouncing off an oversold region. This action confirms the current imbalance zone as a key turning point for a possible price reversal.
Final summary
- $HYPE is recovering from a key market imbalance after defending triangle support, keeping the broader bullish structure intact.
- Increasing trading volume and a $10 million liquidity cluster near $77 are drawing traders’ attention to the next potential resistance area.