Hyperliquid (HYPE) chart analysis from the 12-hour timeframe broke out from its long-standing downtrend, officially crossing the bearish trendline.
The altcoin surged past the resistance at $25.93, which had capped previous rallies since late December 2024. This breakout marked a pivotal shift in market sentiment.
HYPE reached a local high of approximately $27 before settling back to retest the broken trendline at around $25.93, an action typical of a classic bullish reversal pattern.
If price pulls back, the retest could serve as a confirmation point, suggesting that the breakout is genuine and not merely a false rally.
If HYPE holds above this level, it could potentially set the stage for further gains, targeting the next resistance near $30.
Conversely, if the retest fails and HYPE falls back below the trendline, it might indicate that the breakout was not sustainable, putting the coin at risk of returning to lower support levels near $25.
This scenario would likely trigger a continuation of the prior downtrend, possibly pushing prices down further. Therefore, monitoring this retest phase is crucial for predicting HYPE’s short-term price trajectory.
HYPE Crypto Recent Massive Gains and What’s Driving This?
Recently, Hyperliquid surged outperforming Ethereum in terms of 24-hour fee revenue, a major indicator of trading activity and utility. This event is reflected by the 15% rise of HYPE.
HYPE’s price increase correlated directly with $1 billion in staked assets and aggressive buyback strategies, enhancing its liquidity and appeal.
Moreover, quick listings of new assets have contributed to this uptrend, attracting traders seeking fast-paced markets and diverse investment opportunities.
This approach has not only spiked its transaction volume but also reinforced its market presence against competitors like Ethereum.
As for the broader market, several tokens showed differing trends due to varying market sentiments and fundamental developments specific to each project.
Yet, the overarching theme was Hypeliquid’s notable ascension, marking a pivotal shift in DEX dynamics.
This data suggested that Hypeliquid’s strategic initiatives could be key drivers behind its robust performance, hinting at potential future growth as these efforts continue to mature and resonate within the crypto ecosystem.
Hyperliquid’s Mindshare
The correlation between HYPE crypto’s social media engagement, particularly in mindshare and Twitter followers, initially exploded during mid-November 2024.
It marked the first substantial rise in HYPE’s price, peaking near $30. Subsequently, mindshare slightly waned, mirroring a dip in price.
From late December 2024 through January 2025, mindshare consistently decreased yet the Twitter following steadily grew.
HYPE social analytics | Source: dexu.aiHowever, despite this decline in mindshare, the last few days of January saw a sudden spike in social activity, with mindshare jumping over 5%, correlating with a sharp price rebound to around $25.
This resurgence in mindshare suggests increased public interest and potential investor confidence.
Analyzing this pattern, it appears that HYPE’s price reacts sensitively to its social perception and engagement.
With the recent upturn in social metrics, particularly mindshare, HYPE is positioned for potential growth.
If this trend in increasing mindshare persists, HYPE crypto could foresee further price appreciation, underscoring the importance of social metrics in forecasting cryptocurrency trends.
The post HYPE Crypto Breaks Above $25, What Next? appeared first on The Coin Republic.
