Hyperliquid (HYPE) To Rebound? Key Harmonic Pattern Signals Potential Upside Move

Date: Sat, May 31, 2025 | 05:25 AM GMT The cryptocurrency market experienced a sharp correction over the past 48 hours, dragging most major tokens into the red. Bitcoin (BTC) briefly dropped to $103K, while Ethereum (ETH) slipped to around $2,500. This sudden move triggered heavy selling in altcoins — including Hyperliquid (HYPE), which saw a sharp retracement after recent bullish momentum. HYPE is currently trading in the red but has surged over 125% in the last 60 days, and now a well-known harmonic pattern forming on its chart suggests that a rebound may be on the horizon.

Source: Coinmarketcap Harmonic Pattern Signals More Upside In the 2-hour timeframe, HYPE is forming a Bearish Butterfly harmonic pattern — a structure that, despite its name, often leads to further upward movement before reaching a key reversal point. The formation began after HYPE was rejected at $65.06 (point X), leading to a 13% drop and bottoming around $30.65 (point A). This formed the initial XA leg of the harmonic pattern.

Hyperliquid (HYPE) 2H Chart/Coinsprobe (Source: Tradingview) From there: AB Leg: HYPE retraced 81.8% of the XA drop — fitting within ideal harmonic parameters.BC Leg: It bounced again, correcting around 93.4% of the AB leg and finding support near $30.89 (point C).CD Leg: The final leg has now begun, with bulls eyeing the 1.272 Fibonacci extension at $36.30 as the primary target (point D). If this pattern completes, it could trigger a temporary top, but also offer solid opportunities for traders aiming to ride the last leg of the bullish wave. What’s Next for HYPE? Currently trading around $31.75, HYPE has room to climb around 14% toward the $36.30 level. If market sentiment continues to improve, and momentum remains strong, an extended move toward the 1.618 Fibonacci level at $37.83 could also be in play. However, traders should stay cautious. Ethereum (ETH)’s price action remains unstable and could have a ripple effect on altcoins like HYPE. A failure to hold above $30.65 support could invalidate the pattern. Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.