Date: Wed, Sept 17, 2025 | 10:18 AM GMT
The cryptocurrency market is trading cautiously ahead of the key US Federal Reserve meeting today, with Bitcoin (BTC) and Ethereum (ETH) both moving flat. Meanwhile, several altcoins are showing upside potential, including Hyperliquid (HYPE).
HYPE is currently trading in green with modest gains, but the chart shows a much stronger technical signal: the token has confirmed a breakout and retest setup, often a sign that bulls may be preparing for another leg higher.
Source: Coinmarketcap
Retests Rising Wedge Breakout
For weeks, HYPE had been consolidating inside a rising wedge pattern. While this setup is often considered bearish, an upside breakout can occur, particularly when supported by strong fundamentals. In fact, HYPE has recently attracted attention as it ranks among the top three revenue-generating protocols in the past 30 days, according to DefiLlama — a fundamental factor that could be fueling the bullish momentum.
The token held firm support near $42.47 at the wedge’s lower trendline before rallying higher. That move pushed HYPE through the wedge’s upper resistance, confirming a breakout near the $52.0 mark. Following the breakout, HYPE climbed to as high as $57.44, where sellers stepped in to halt the advance.
Hyperliquid (HYPE) Daily Chart/Coinsprobe (Source: Tradingview)
Since then, the price has pulled back in a standard retest of the breakout zone, finding support around $52.07. Renewed buying interest has lifted HYPE back to $54.90 at the time of writing, suggesting bulls are defending the breakout level.
What’s Next for HYPE?
The setup remains constructive, but momentum will depend on whether HYPE can break above its local high of $57.44. A successful move above this resistance would confirm bullish strength and open the door for a potential rally toward the wedge breakout target of $64.33 — a significant gain from current prices.
On the downside, if the breakout retest fails and price falls back under $52, it could signal a false breakout, delaying the bullish outlook.
