Hyperliquid price could go to $100 if it breaks €60

The Hyperliquid price is showing a bullish pattern despite a slight pullback. Michaël van de Poppe, also known as @CryptoMichNL, analyses the chart and concludes there is no reason to expect a major decline. At the time of writing, Hyperliquid stands at $67, a gain of 5.7% over the past 24 hours.

Hyperliquid is available at OKX and Bybit.

Breakdown below moving averages but no panic

Van de Poppe points out that HYPE is temporarily dipping below the 21-day and 50-day moving averages. Yet he does not see this as an alarm signal. According to him, the overall trend remains intact and the chart structure is still bullish.

Two important support zones are visible on the chart. Around €38.79 there is a level that acted as crucial resistance in recent months, while €49 is the next relevant level if an unexpected further correction occurs. As long as the price remains above these zones, the technical analysis looks favourable.

Eyes on €60 and then $100

The key zone for the short term is at €60. Van de Poppe states that a successful break above this level is the signal for a new rally towards the recent highs. Those highs are around €65 to €66 on the chart, visible as a consolidation zone after the strong rally in May.

If the price leaves that zone behind, Van de Poppe outlines a scenario where $100 emerges as the next price target. That is an increase of more than 48% from the current price. The analyst indicates that the chart remains bullish for now and that there are no concrete indications pointing to a bearish trend reversal.