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Hyperliquid Coin has demonstrated impressive resilience during the ongoing market correction, maintaining its position above a key support level at $29.20. With its high-timeframe structure intact and volume confirming the breakout, the potential for a move toward new highs above $39 is increasingly likely.

Technical Analysis of Hyperliquid Coin

While the broader cryptocurrency market has seen periods of consolidation and pullbacks, Hyperliquid Coin has stood out by holding firmly above its critical support zone. This $29.20 level is not only psychologically significant but also technically robust, as it aligns with several key indicators:

  • Value Area High: A critical level in volume profile analysis, marking areas of heavy trading activity.
  • 0.618 Fibonacci Retracement: A key level often watched by traders for potential price reversals.
  • Anchored VWAP: A volume-weighted average price that serves as an additional layer of support.

The confluence of these factors makes the $29.20 zone a highly reliable support area. Hyperliquid Coin has successfully retested this level, further solidifying its foundation for bullish continuation.

Key Technical Points

  • $29.20 High-Timeframe Support Zone: The combination of VWAP, Fibonacci retracement, and the value area high forms a strong base for price action.
  • 34% Breakout Potential: If the $29.20 support holds, a measured move could target $39.10, representing a potential 34% price increase.
  • Volume Spike Confirms Breakout: Elevated trading volume after reclaiming $29.20 provides additional confirmation of bullish momentum.

Price Action and Market Behavior

Since establishing a swing low, Hyperliquid Coin has been forming a clear bullish structure with a series of higher highs and higher lows. The recent price movement saw the coin reclaim the point of control, breach the value area high, and retest the $29.20 support level. This technical retest reflects a classic bullish setup, particularly as it coincides with increased trading volume.

“When price confirms a breakout level with elevated volume, it underscores strong demand interest and signals a higher probability of trend continuation.”

The ability of Hyperliquid Coin to outperform the broader market during correction phases further validates its bullish trajectory. Assets that lead in strength while others falter often become the first to break out when market sentiment improves. This resilience, coupled with a technically clean setup, positions Hyperliquid Coin for further gains.

What to Expect in Upcoming Price Action

If Hyperliquid Coin continues to hold above the $29.20 support level with sustained or increasing volume, the bullish structure remains intact. A rotation toward the $39 resistance zone is a plausible next step, representing a potential 34% price increase from current levels.

However, if the $29.20 support fails, the technical outlook would need to be re-evaluated. For now, the indicators strongly favor continuation to the upside, provided volume remains consistent.

Stay updated on the latest cryptocurrency trends and market insights to make informed investment decisions. Hyperliquid Coin’s performance showcases the importance of technical analysis and volume as key tools for predicting potential price movements in the volatile crypto market.

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