Date: Sun, June 08, 2025 | 05:38 AM GMT
The cryptocurrency market is bouncing back strongly after Thursday’s sharp sell-off, which briefly dragged Bitcoin (BTC) to a low of $100,430 and Ethereum (ETH) to $2,387. However, the tide has turned—BTC has reclaimed levels above $105,600, while ETH has recovered to around $2,515. This broader rebound is now lifting sentiment across altcoins, including Hyperliquid (HYPE).
HYPE is currently showing monthly gains of over 45%. More importantly, a well-known harmonic pattern forming on its chart suggests that further upside may be in continuation.
Harmonic Pattern Signals More Upside
On the 4-hour timeframe, HYPE is developing a Bearish Butterfly harmonic pattern — a technical setup known for forecasting bullish extensions before a reversal at the final leg.
The structure kicked off with a local high of $39.95 (Point X), followed by a 24% decline to $30.27 (Point A), forming the XA leg. HYPE then rebounded to $37.20 (Point B), which was a deep retracement of XA (around 81.9%), before correcting again to $32.61 (Point C), forming a clean BC leg with a 70.5% retracement of AB.
The final CD leg is currently underway, and if it plays out fully, the potential target lies at $42.58 — the 1.272 Fibonacci extension of the XA leg, which serves as point D in this setup.
This zone is a typical target for Butterfly completions and marks an area where traders might begin to take profits or prepare for a possible reversal.
What’s Next for HYPE?
With HYPE currently trading around $35.35, the path to $42.58 offers nearly 20% upside potential from current levels. If momentum continues and broader crypto sentiment stays bullish, HYPE could even overshoot toward the 1.618 Fibonacci extension at $45.93 — a 30% rally from here.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
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