Hyperliquid: Bullish or Just Bull? The $28.40 Saga Unfolds

by

Well, well, well. Look who’s decided to flex its muscles in the crypto arena-Hyperliquid, the coin that’s apparently more resilient than a cockroach in a nuclear winter. After a dramatic reclaiming of the $28.40 level, it seems the market has decided to stop treating it like a hot potato and start treating it like a golden ticket. Or at least, that’s what the bullish engulfing candles are trying to tell us. Spoiler alert: they’re not great at subtlety.

  • $28.40 reclaimed and defended-because nothing says “I’m serious” like a price level that refuses to budge.
  • Bullish engulfing candles-basically the crypto equivalent of a mic drop, but with more charts.
  • Upside potential unlocked-next stop, $48.02, or as I like to call it, “the moon, but with more resistance.”

Hyperliquid (HYPE) has apparently decided that corrective consolidation is so last season. After a brief period of “let’s pretend we’re not sure,” the market has roared back with the kind of bullish impulses that make even the most jaded traders sit up and take notice. The $28.40 level, once a mere structural pivot, has now been crowned the King of Support. Long live the king.

Now, why does this matter? Because, as any self-respecting market analyst will tell you, decisive break-and-retest behavior at high-timeframe levels is the crypto equivalent of a marriage proposal. And Hyperliquid just slipped a ring on the finger of $28.40. Will it stick around, or is this just a fling? Only time-and a lot of charts-will tell.

Hyperliquid’s Technical Tea Leaves

  • $28.40-reclaimed, retested, and ready to party like it’s 2021.
  • Bullish engulfing candles-because nothing says “buy” like a candlestick that looks like it ate the one before it.
  • Upside target: $48.02-the next major resistance, or as I like to call it, “the boss level.”

Hyperliquid’s recent price action has been less of a stroll and more of a sprint, with bullish engulfing candles that scream, “We’re not here to make friends, we’re here to make money.” These moves aren’t your grandma’s accumulation phase-they’re aggressive, impulsive, and frankly, a little show-offy.

After breaking above $28.40, the price did the crypto equivalent of a victory lap, pulling back just enough to say, “Oh, you thought I was done?” before bouncing back with the vigor of a trampoline. This isn’t just a retest; it’s a statement. And the statement is: “$28.40 is ours now.”

What does this mean for the average Joe? Well, it means that buyers are stepping up to the plate like they’re in the World Series of Crypto. Sellers? They’re sitting in the dugout, nursing their losses and wondering where it all went wrong.

Fibonacci and the Liquidity Sweep: A Love Story

Now, let’s talk about the 0.618 Fibonacci retracement-the unsung hero of bullish structures. Sitting just below the current support zone, it’s like the bouncer at an exclusive club, making sure only the most committed buyers get in. If the price revisits this level and bounces back like a champ, it’s a sign that the market is ready to clear out the last of the sell-side liquidity and resume its upward march.

Think of it as a final exam for the bulls. Pass it, and you’re in the clear. Fail it, and well… let’s just say the bears will be having a field day. But for now, the bulls seem to be acing the test.

Of course, short-term volatility is still on the menu-because what’s crypto without a little drama? But as long as $28.40 holds, the bullish thesis remains as solid as a rock. Or at least, as solid as anything in crypto can be.

Market Structure: The Sequel

From a market structure perspective, Hyperliquid is starting to look like it’s auditioning for the role of “Next Big Thing.” The recent move higher has been impulsive, the support retest has been successful, and the corrective phase? Well, it’s starting to look like ancient history.

If the price keeps holding above support and builds a higher low, the stage is set for a bullish expansion. And the next stop on this wild ride? $48.02, a level that’s likely to put up a fight. But hey, what’s a little resistance when you’re on a mission to the moon?

What’s Next for Hyperliquid? Spoiler: More Drama

So, what’s the takeaway here? As long as $28.40 holds, Hyperliquid is looking pretty spiffy. Short-term pullbacks? Expected. Higher lows? Encouraging. A move toward $48.02? Well, that’s the crypto equivalent of a fairy tale ending.

For now, the evidence suggests that Hyperliquid has passed its bullish retest with flying colors. The market structure is shifting, the buyers are active, and the path to higher resistance levels is wide open. Will it stick the landing? Only time will tell. But one thing’s for sure: this is one coin that’s not afraid to keep us on our toes.

Read More

2026-02-12 20:02