HYPE price surged over 8% in the past 24 hours as the price action shifts into a cleaner structure. The chart shows a distinct response by one of the key support areas that influenced the recent market behavior.
The market took a rounded base where buyers intervened to provide the larger picture with a constructive tilt. This change is following a period of volatility compression that has been in a long-term downward trend.
HYPE Price Forms a Clear Reversal Structure
The HYPE price chart reveals a decisive shift after weeks of forced selling. At the time of writing, HYPE price trades around $29, creating a constructive base inside a well-defined falling wedge.
This trend was created following the repetitive tests of the support zone around $28 and every test attracted more solid reactions. The right side of an Adams and Eve structure is now developed to provide buyers with a cleaner structure in order to build control in the short term.
Meanwhile, the breakout attempt aligns with a series of higher lows that formed near wedge support. Every pivot formed a distinct recovery rhythm and the chart honors this rhythm with great accuracy. Breaking above $35.96 will open clean traffic to $43.11 where price was rejected previously.
Furthermore, continuation above this midpoint zone gives the chart space to attempt the $50 target. The building justifies this perception since the trend grew without being distorted. Altogether, the chart forms the basis for a stronger long-term HYPE price prediction.
Rising Open Interest Reinforces HYPE’s Recovery Setup
Open Interest climbed 7.78% to $1.61B, giving the HYPE price rebound strong confirmation. This growth is an indication of a gradual growth in participation as the market develops a new structure.
Notably, Open Interest grew while price reclaimed higher ground, showing constructive alignment between positioning and direction. This alignment is significant as traders are likely to develop exposure as structure enhances.
In particular, the recent growth was in a base-formation stage, which restricts distortions of forced exits. New positioning also increased towards the wedge boundary indicating clean engagement as opposed to defensive responses. Meanwhile, rising OI near resistance zones shows that traders back continuation attempts instead of fading rallies. This behavior supports sustained strength in the Hyperliquid price cycle.
Furthermore, OI expansion with higher lows often strengthens breakout attempts because liquidity thickens above key thresholds.
As the price stabilizes at around $29, the participants are no longer retreating into the structure. OI behavior coupled with chart alignment helps the larger HYPE goal of $50.
To sum up, HYPE has developed a structure that is conducive to upward continuation provided that support is provided. The growth of Open Interest reinforces this arrangement since the participation increases in constructive periods.
The set-up also coincides with a strong breakout towards higher levels. With control in the hands of the buyers, HYPE has space to reach the $50 target.
