Hyperliquid’s HYPE token has been gaining attention in crypto circles after prominent investor Arthur Hayes suggested it could have as much as a 126x upside potential. While such projections spark debate, the charts reveal a clearer picture of where the token stands in the short to mid-term.
At the time of writing, HYPE/USDT trades at $44.13, holding just above a strong support zone around $42–43. This area has acted as a demand cluster where buyers consistently step in to absorb selling pressure. On the other side, resistance sits at $47 and $51, highlighted in red on the chart. A breakout above these levels could open the door for another leg higher.
Earlier in August, HYPE broke out of a descending channel pattern, signaling a shift from bearish momentum to accumulation. “The breakout from the channel structure was the first technical sign of renewed strength,” BITX market analyst observed. “As long as HYPE holds above $42, the bullish case remains intact.”
Arthur Hayes has been vocal in his belief that Hyperliquid represents the next big opportunity in decentralized trading infrastructure. He pointed to its liquidity depth, design, and potential adoption as reasons the token could achieve massive multiples.
“It’s not just speculative hype — the protocol has fundamentals that could sustain long-term growth,” According to BITX analysts, though cautioning that short-term volatility remains elevated.
For now, the $42 support zone remains the key line in the sand. If bulls manage to defend this level and push through $47 resistance, momentum could carry HYPE toward $50–$52. On the other hand, a failure to hold support might drag the price back toward the $38–$36 range.
While the 126x upside claim remains speculative, the technical structure suggests that HYPE is entering a critical phase where investor conviction will be tested.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.