HyperLiquid Breaks Key Resistance at $20, Eyeing a Potential 41% Rally

HyperLiquid has successfully broken through a major resistance level at $20, turning it into a strong support zone. This development signals robust bullish momentum, and if the $20 level holds, the cryptocurrency could be on track for a significant 41% move toward the $29 mark.

Key Technical Analysis for HyperLiquid

After a consistent pattern of higher highs and higher lows, HyperLiquid has reclaimed a crucial technical level, solidifying its bullish trajectory. Here are the key technical points to consider:

  • Resistance Turned Support: The $20 level, previously a strong resistance, has now flipped into support, confirming bullish control.
  • Fibonacci Confluence: The 0.618 Fibonacci retracement aligns perfectly with the $20 support level, adding further strength to this zone in the event of a pullback.
  • Next Target: The next significant resistance is at $29, representing a potential 41% upside from the current levels.

Market Structure and Price Action

HyperLiquid’s price action has maintained its bullish structure, characterized by higher highs and higher lows. The breakout above the $20 mark is a pivotal move, confirming the continuation of the uptrend. If the price sustains above this level, it paves the way for further gains in the near term.

In the event of a pullback, a retest of the $20 region is likely. However, rather than indicating weakness, this would signify a classic bullish support/resistance (SR) flip — a healthy move in trending markets. The $20 zone also aligns with the 0.618 Fibonacci retracement, reinforcing its importance as a key support level.

Risk-Reward Setup and Potential Rally

For traders and investors, the $20 level presents a favorable risk-reward setup in the current market conditions. A successful bounce from this region could trigger a rally toward the next resistance at $29, delivering a substantial 41% gain. Such a move would further strengthen HyperLiquid’s bullish momentum and solidify its overall market structure.

What to Watch for in the Coming Days

To maintain its bullish trajectory, HyperLiquid must hold the $20 support during any short-term retracements. Traders should monitor daily candle closes and volume spikes above this level as indicators of continued strength. If these conditions are met, the likelihood of reaching the $29 target increases significantly.

As the market evolves, staying informed about key price levels and technical signals will be essential for navigating opportunities in HyperLiquid. Keep an eye on market updates and price action to capitalize on potential moves in this cryptocurrency.

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