- CryptoTony targets $30.50 and $33 for $HYPE if $28 support remains intact.
- Price rejected $33.30 POC before sweeping liquidity near $26, forming a classic range setup.
- HYPE powers Hyperliquid, which surpassed a $9B market cap after its 2024 launch.
The fast-paced world of cryptocurrency trading, seasoned analyst CryptoTony has once again captured the attention of the community with his latest update on $HYPE, the native token of the Hyperliquid blockchain. Tony’s chart highlights a critical range play, emphasizing potential upside targets while underscoring the importance of key support levels.
Chart Breakdown: Rejection at $33.30 POC
Hyperliquid, a Layer-1 blockchain launched in 2024, is renowned for its high-performance decentralized exchange (DEX) focused on perpetual futures trading. The platform offers low fees, rapid transactions, and advanced tools, making it a favorite among DeFi enthusiasts. $HYPE serves as the ecosystem’s utility token, powering governance, staking, and gas fees within the HyperEVM environment. Following its airdrop distribution to nearly 100,000 users, $HYPE quickly ascended to the top 20 cryptocurrencies by market cap, surpassing $9 billion within months. The token was trading around $27.58, reflecting a volatile yet resilient performance.
Tony’s analysis centers on a 4-hour Bybit perpetual contract chart for HYPEUSDT. The visual depicts a sharp rejection at the range high and Point of Control (POC) around $33.30, followed by a decline that swept lows near $26. An arrow marks the rejection point, signaling a potential liquidity grab—a common setup where price tests highs before pulling back to lure in shorts. Currently, the price hovers near $28, which Tony identifies as the pivotal range low.
Bullish Targets: $30.50 and $33 Explained
According to Tony, as long as $HYPE maintains above this $28 threshold, the path opens for bullish momentum toward $30.50 and subsequently $33.00. This outlook aligns with classic technical patterns: a range reclaim after sweeping lows, potentially setting up for a breakout if volume supports the move. Replies to his post echo mixed sentiments—some traders approve the targets, advocating for long positions with trailing stops, while others warn of dangers if $28 breaks, possibly leading to further downside.
The broader context, $HYPE’s price action mirrors the crypto market’s ebb and flow, influenced by narrative shifts and on-chain data. Hyperliquid’s focus on efficient DeFi positions it well for growth, especially as adoption of perpetuals surges. However, traders should note the inherent risks: crypto markets are notoriously unpredictable, with 99% of participants potentially facing losses, as Tony himself cautions in his bio.
For those eyeing $HYPE, this update serves as a reminder to monitor volume, AI signals, and structural levels closely. Whether scaling in at support or waiting for confirmation above $30, disciplined risk management is key. As always, this is not financial advice—conduct your own research and consider local regulations before trading.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
