Key Takeaways
- HYPE is outperforming the broader market, up over 10% while ETH dropped ~24%.
- A bullish LTF fractal is forming inside a descending triangle on the 1H chart.
- Strong support sits near $31.55, recently triggering a bounce to ~$33.15.
- A breakout above $35.75 could send HYPE toward $41.89 (≈26% upside).
- Losing $31 support would invalidate the bullish setup.
HYPE, the native token of Hyperliquid — one of the fastest-growing decentralized perpetual trading platforms — continues to show impressive relative strength despite the broader crypto market downturn.
While major assets like Ethereum (ETH) have suffered nearly a 24% drop over the past seven days, HYPE has managed to stay bullish, posting over 10% gains during the same period.

But beyond short-term price action, the technical structure tells a more interesting story. On lower timeframes, HYPE is now flashing a familiar bullish fractal, hinting that another upside move could be brewing.
Fractal Setup Suggests Breakout Ahead
Zooming into the 1-hour chart, HYPE appears to be trading inside a descending triangle pattern — the same structure that previously triggered a sharp 21% breakout earlier this week.
Once again, price has pulled back into a clearly defined demand zone near $31.55, where buyers stepped in aggressively. This bounce has already pushed HYPE back toward the $33.10 area, signaling that bulls are actively defending this support.
What makes this setup notable is the similarity to the prior move:
- Price consolidates under descending resistance
- Liquidity gets absorbed near support
- Buyers reclaim short-term momentum

If this fractal repeats, HYPE is likely to make a run toward the descending trendline resistance around $35.75.
A clean breakout above that level could open the door for a measured move toward the technical target near $41.89 — representing roughly 26% upside from current levels.
Adding confidence to the structure, price is also holding above the 200 moving average on the 1H timeframe, a level that previously acted as dynamic support during earlier rallies.
Risk Still Exists
Of course, no setup is guaranteed.
If HYPE fails to hold the $31–$31.55 support zone, this bullish fractal would be invalidated. In that case, price could slide back into a deeper consolidation range, delaying any breakout attempt.
For now, however, the structure remains constructive, with buyers defending key levels and volatility compressing beneath resistance — often a recipe for expansion.
Disclaimer: The views and analysis presented in this article are for informational purposes only and reflect the author’s perspective, not financial advice. Technical patterns and indicators discussed are subject to market volatility and may or may not yield the anticipated results. Investors are advised to exercise caution, conduct independent research, and make decisions aligned with their individual risk tolerance.
About Author: Nilesh Hembade is the Founder and Lead Author of Coinsprobe, with over 5 years of experience in the cryptocurrency and blockchain industry. Since launching Coinsprobe in 2023, he has been providing daily, research-driven insights through in-depth market analysis, on-chain data, and technical research.
