Hyperliquid Breaks Out of Falling Wedge, Signals Potential Bullish Reversal

A technical analysis of Hyperliquid (HYPE) suggests a potential bullish reversal, as the asset has broken out of a falling wedge on the 4-hour chart. The price surge above the upper trendline is accompanied by rising trading volume, increasing confidence in an upward move towards $38.

The breakout above the upper trendline reflects renewed buyer strength and positions HYPE for a possible rally, according to crypto analyst ZAYK Charts. This technical action comes after a brief dip below the 200 EMA, highlighting a key turning point for short-term traders.

Rising momentum indicators, including an RSI at 60.69 and a bullish MACD crossover, suggest strengthening buying pressure and confirm short-term upward momentum. However, analysts caution that cryptocurrency remains volatile and investors should balance potential gains with careful risk management.