They say, somewhere out beyond indifferent forests and sullen skies, that money cannot buy happiness. But in the marketplace of Hyperliquid (HYPE), happiness sometimes comes in tidy increments of 41% โ or so the rumor mill whispers, teacups ever trembling.
Today, this fickle mistress, Hyperliquid, has cast aside the burdensome chain of the $20 resistance. What was once an impregnable fortress โ manned by dour bears and the stuffy ghosts of past sellers โ is now a chaise longue for bullish revelers to stretch their legs upon. Should the carpet beneath their feet hold, some say the price may yet waltz toward $29. How the peasants shall marvel!
Key technical points:
- Major Resistance Flip: The mighty $20, long a wall keeping hopeful men humble, now nothing more than a stepping stone for wild-eyed bulls.
- Fibonacci Confluence: The 0.618 Fib retracement shrugs and mutters: “I too, shall guard this $20 threshold,” thus increasing the odds that at least someone is paying attention here.
- Next Target: The $29 summit looms โ offering a 41% climb for those not too dizzy from prior ascents.
By some cosmic jest, the price has set another high in this grand procession of higher highs and higher lows. The trend stands upright, shoulders squared, like a Russian hero staring into the steppe (only, perhaps, with fewer existential monologues). Breaking above $20 is not only an impressive feat, but a clear invitation for further revelry โ should the crowd not scatter at the first sign of trouble below.
If Hyperliquid should faint and swoon from these heights, a retreat to $20 โ oh sacred ground! โ need not presage tragedy. Rather, it would be the classic SR flip waltz: two steps back, three steps forward, with the 0.618 Fibonacci retracement sighing contentedly in agreement.
The harmony of Fibonacci and horizontal SR at $20 almost makes one believe in fate, or at least in coordinated defense. Should the price tarry here, bulls โ notorious for charging at anything red โ are apt to gather and mount a respectable offensive. The odds of a rally, as the poets say, become “not insignificant.”
Risk-reward here? Not the worst in recent memory (which, in trading, is never very long). A bounce from $20 might well initiate a journey to $29. Should that be achieved, let no one say Hyperliquid lacked panache or momentum.
What to expect in the coming price action
If the $20 support persists through the next inevitable panic, the structure โ like an old uncle after his third vodka โ remains solid. Eyes should stay sharp for volume spikes and candle closes above $20: subtle hints that perhaps, just this once, the rally really is different. But then, are not all rallies different, until proven otherwise? ๐
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2025-05-08 23:21