Date: Sat, April 19, 2025 | 07:05 PM GMT
The cryptocurrency market has been under intense selling pressure recently, with Ethereum (ETH) posting its worst Q1 since 2018, sliding more than 45%. That bearish wave swept across the altcoin sector — and the Hyperliquid (HYPE) token wasn’t spared either.
But there’s a shift in momentum brewing. HYPE, the native token of Hyperliquid’s decentralized exchange, has managed to stage a rebound with an impressive 25% monthly gain, narrowing its year-to-date drop to just 25%. And interestingly, a classic harmonic pattern now hints that this recovery could continue further.
Harmonic Pattern Signals More Upside Move
The daily chart for HYPE reveals the formation of a Bearish Gartley Pattern, but as of now, there’s still plenty of upside room left as the token approaches point D to complete the structure.
HYPE’s sharp decline began around February 14, after it failed to hold above the $28.45 resistance level (marked as point X). Since then, the token lost over 67% of its value, eventually bottoming out near $9.32 on April 7 (point C).
However, since hitting that low, HYPE has shifted gears, and the recent price action suggests it is now completing the CD leg of the pattern — potentially setting the stage for a continuation of this uptrend.
From here, HYPE could extend this rebound toward the final target (point D) of the Gartley pattern, projected at $24.95 — a potential gain of around 38% from the current price near $17.90 if the pattern plays out fully.
What’s Ahead?
Should this bullish momentum continue, traders and investors could watch for a move toward the $24.95–$26.00 area. This zone represents not just the pattern completion but also coincides with the 78.6% Fibonacci retracement of the X-A leg, a major resistance area where a pullback could occur.
However, traders should remain cautious as HYPE approaches the D point. Bearish reactions typically occur once harmonic patterns complete, which means profit-taking could kick in around the $25 mark.
For now, the path appears tilted upward, with $18.34 (38.2% Fib retracement) acting as near-term support, while a break below $16.00 would invalidate the bullish outlook.
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