Hyperliquid's Breakout Sparks Concerns Over Wallet Vulnerability

Crypto analysts are sounding the alarm about the potential for thousands of wallets to be vulnerable to an exploit called Ill Bloom. The warning comes as Hyperliquid, a decentralized perpetual futures trading platform, has broken above a symmetrical triangle pattern on its 30-minute chart, trading around $71.25 USDT.

The breakout signals a potential shift in short-term momentum after weeks of price compression, with the former triangle resistance now acting as support at $67-$68. Traders will be watching whether Hyperliquid can hold above this zone, which is crucial for maintaining its upward momentum.

On the upside, $72 is the first resistance to clear, and a sustained move above that could push price toward the measured target of $76.99, roughly 8-9% above the breakout area. The RSI sits between 55-60, which is neutral-to-bullish and leaves room for more upside without entering overbought territory.

Crypto analyst AltcoinSherpa shared his view on X, saying: '$HYPE has been chopping/grinding around for about 1 month and I would like to see it continue in this fashion. The longer something ranges, the stronger the proceeding move after.' He predicts a potential run to $100 if the consolidation holds.