Hyperliquid (HYPE) Price Analysis Suggests $70-$75 as Key Support Before Potential Rally to $90

Is the $70-$75 Zone Strong Enough to Prevent Further Downside?

Hyperliquid’s native token HYPE is undergoing a technical pullback after a strong 60% rally from late-August lows, with price action now testing key retracement levels between $70 and $75. The move comes as the asset faces resistance near $77-$80, prompting analysts to monitor whether buyers can hold the lower zone to avoid deeper correction. This consolidation phase follows a period of rapid gains that pushed HYPE to multi-week highs earlier in September.

The current price structure suggests HYPE is completing Wave II of an Elliott wave pattern, which typically involves a corrective phase after an initial impulse move. Technical indicators show the $70-$75 range aligns with both prior support areas and 61.8% Fibonacci retracement levels from the August-September advance. If this zone holds, it could set the stage for a renewed upward push toward the $90 level, which corresponds to the 1.618 Fibonacci extension of the prior wave. Market participants are watching volume and buying pressure closely to confirm whether the correction is nearing completion.

What Could Trigger a Move Toward the $90 Target?

Analysts note that the $70-$75 area has previously acted as both support and resistance, giving it added significance in the current context. A clean bounce from this range would reinforce bullish structure and validate the ongoing uptrend despite the short-term pullback. Conversely, a break below $70 could open the door to deeper retracement, potentially testing the 78.6% Fibonacci level near $65. Traders are advised to watch for bullish candlestick patterns and rising relative strength index (RSI) readings as signs of renewed momentum.

A sustained reclaim of the $80 level with strong volume would be the first sign that the correction is over and the next impulse wave is underway. From there, clearing $85 could open path to $90, which aligns with both Fibonacci extension and prior resistance zones. Positive developments in Hyperliquid’s ecosystem, such as increased trading volume on its platform or new liquidity incentives, could also support upward momentum. Until then, the market remains in a cautious consolidation phase, with the $70-$75 zone serving as a critical inflection point for near-term direction.

What caused Hyperliquid’s recent price decline? The pullback follows a sharp 60% gain from late-August levels, leading to profit-taking and technical resistance near $77-$80, which triggered a corrective phase.

Frequently Asked Questions

Why is the $70-$75 range considered important? This zone combines prior support with the 61.8% Fibonacci retracement level of the recent advance, making it a key area for potential buyer defense.

What would invalidate the bullish outlook? A clear break below $70 with sustained selling pressure would suggest deeper correction and could delay or cancel the expected move toward $90.