Hyperliquid’s HYPE token has been on a tear lately. After a brief consolidation in the low $50 area in early August, the digital asset is again on an uptrend, rising more than 20 percent over the past 24 hours. Analysts predict that the digital asset is likely to create a new high soon.
HYPE eyeing the $150 price target
In a Thursday X post, crypto analyst Crypto Patel shared the following HYPE weekly chart. The analyst outlined HYPE’s likely price trajectory over the coming weeks, using the Fibonacci structure.
For the uninitiated, a Fibonacci structure uses key Fibonacci levels, such as 0.5 and 0.618, to identify potential support, resistance, retracement, and reversal zones. Traders use these levels to estimate where a correction may end and where the next major price move could begin.
According to Patel, HYPE saw one of its sharpest price pullbacks recently when it fell over 33 percent to create a local low of $52. As of Thursday, it’s trading around $72. However, there’s another price decline looming, which would push HYPE all the way down to $40.
However, this fall to $40 will be the final descent before HYPE surges to a new all-time high. The analyst said that the $70 to $74 zone could become a reversal area toward the $40 move. However, any weekly close above the $77 level should be seen as an invalidation.
Patel remarked that the accumulation zone for HYPE lies between $32 to $4 – which corresponds to an area between the 0.5 to 0.618 Fibonacci levels. Finally, the long-term target of HYPE lies around $150.
Chasing $100 in the short term
Fellow crypto market commentator Rand Group shared a similar outlook on HYPE, however, without the temporary fall to the $40 region. The analyst shared the following chart, forecasting HYPE’s surge to $100 by November 2026.
Recent technical patterns are strongly suggesting HYPE’s looming entry into triple-digital price territory. For instance, on July 15, HYPE formed a classic bull flag bringing attention to the $100 price target.
Most recently, on Tuesday, HYPE broke out of an ascending triangle pattern with a $89 target in focus. As of Thursday, HYPE remains about 7 percent below its all-time high price of $76 recorded in June.
