Date: Wed, March 19, 2025 | 09:38 AM GMT
In the cryptocurrency market, the decentralized derivative exchange token HYPE (Hyperliquid) has been in a sharp downtrend following its impressive rally in December 2024, when it reached a high of $35.37 on December 21. However, over the last 90 days, HYPE has faced a massive 42% correction, bringing its price down to a bottom support zone.
Despite the correction, a historical fractal pattern suggests that HYPE could be gearing up for a major reversal, similar to Binance Coin (BNB) in 2018, which later saw an explosive rally, and today’s 9% gains have added more weight to this possibility.
HYPE Chart Mirrors BNB’s Past Price Behavior
According to a recent fractal chart analysis by crypto analyst @Trader1PA, HYPE’s current price structure and correction phase closely resemble BNB’s 2018 cycle. The resemblance is striking, particularly in how both assets formed an ascending wedge pattern, followed by a sharp breakdown that led to an extended period of accumulation.
Back in 2018, BNB experienced a breakdown after forming a rising wedge, leading to a consolidation phase at a critical support level. This accumulation zone provided the foundation for BNB’s eventual breakout and exponential growth in the following year. Similarly, HYPE is now trading at a key support zone, hinting at a potential bottom formation.
If this fractal pattern continues to play out, HYPE could soon see a strong reversal once it gets above the current support zone of $12-16, just as BNB did before its monumental rally. The potential for a strong bullish reversal remains high, provided that the current support holds.
Is HYPE Setting Up for a Major Reversal?
The similarities between BNB’s 2018 cycle and HYPE’s current trajectory suggest that a big move could be on the horizon. If HYPE follows the same pattern, it could soon establish a strong base before staging a significant recovery. The next few weeks will be critical, as a price stabilization at the current level may confirm the start of an uptrend.
For traders and investors watching closely, an increase in trading volume and positive price action could serve as key indicators of a reversal. With today’s 9% gain, it seems that bullish momentum may already be building. If history repeats itself, HYPE might be positioned for a strong comeback, potentially reclaiming higher price levels in the near future.
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