HYPE eyes $18.50 breakout

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

HYPE

Technical analysis:

• A really nice move by HYPE here.
• For us, the key level for HYPE to clear above was the $15.50 horizontal resistance, assuming $14.50 could be overturned, which it was.
• Now, the main key horizontal resistance in front of the price is the major level of $18.50. This will be a huge testing area for HYPE, and it'll be a key gauge for us in terms of appetite if these key horizontal resistances ($18.50 for HYPE, $2,160 for ETH, etc) can be flipped.
• In terms of downside, we'd be looking at the $14.50 to $15.50 zone as being a zone of support. We'd like to see that area hold on to any moves lower.
• The RSI has pushed up substantially from oversold levels with it now back into the 50's at middle territory. This is positive, especially as there aren't any hidden bearish divergences for now.

Hyperliquid breaking out of the $14.50-$15.50 zone with $18.50 as the next key resistance

HYPE 1D Timeframe - Key Levels:

• Next Support: $14.50
• Next Resistance: $18.50
• Direction: Neutral
• Upside Target: $18.50
• Downside Target: $14.50

Cryptonary's take

Overall, it was a really nice move higher by HYPE, breaking out of the $14.50 to $15.50 zone. The key level now for HYPE is the horizontal level of $18.50. This will be a great gauge for us. If $18.50 can be surpassed, then we'd have to consider turning more bullish, as it's a key level to flip. However, we don't expect it to be flipped. But let's see over the coming week.

For now, we remain patient and we're not looking to partake in any moves for HYPE. However, if price does go substantially higher, we may look for Shorts.