HYPE Price Breakout Ignites Rally Talk Toward $170 Target

Whale traders have taken their most aggressive net-long positions in eight months on Hyperliquid’s HYPE token, even as retail participants sit at a 12-month bearish extreme — a gap that data suggests typically resolves in favor of the larger players.

Data from Alphractal shows that since early May, large traders have been quietly building leveraged long positions while retail participants turned bearish and began short selling into the rising trend.

The token slipped 2% over the past day, but its technical picture has stayed firmly bullish. Prices are tracking well above the 20-day simple moving average of $47.97 and have broken above the upper Bollinger Band, which analysts say signals strong momentum but also short-term overextension.

59.54$ direnci üzerinde tutunduğu sürece grafikte belirtiğim çanak hedefi olan 170$ seviyelerini hedefleyecektir.

Grafiği cidden güzel.

Crypto analyst Bitcoin Meraklisi flagged a key development: HYPE closed a daily candle above $59.54, a level that had acted as stubborn resistance for months.

The $59.54 zone is now viewed as critical support. If the price holds above it, traders say the bullish case stays intact. A failure to hold could put the breakout in doubt.

The broader rally started taking shape in mid-May, following a period of consolidation through April. Prices have climbed sharply since then, and the MACD indicator has been trending upward in positive territory, with growing green histogram bars backing up the move.

The Bollinger Bands have widened significantly, pointing to elevated volatility. TradingView data shows the price has risen sharply from lows seen in early February to its current range.

Featured image from Unsplash, chart from TradingView