HyperLiquid (HYPE) hits new high… $34 support determines direction for $40

HyperLiquid (HYPE) has hit a new high for the first time since last November, and the market's attention is turning toward the next price target. Recent technical analysis suggests that a long-term 'accumulation' structure has formed the basis for the upward breakout, and if the current trend continues, the next major target could be the $40 range.

According to a chart shared via X by cryptocurrency analyst Ardin (@ArdinNSC), HyperLiquid (HYPE) has formed a gradual, curved accumulation pattern over the past few weeks. It is characterized by the appearance of a 'rounding bottom' structure, where the price recovers slowly from a downtrend rather than rebounding sharply. This is interpreted as a typical accumulation phase where buying pressure gradually absorbs supply, leading to market stabilization.

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