HYPE Market Direction

Market Context

• Hyperliquid is still in a clear uptrend, holding a strong bullish trendline.
• Next support comes in at $38, with Fibonacci 61.8% retracement at $36.5 (measured from May 31st low to June 16th high).
• RSI peaked at 72 on June 10th and has since reset to neutral at 54, providing room for continuation.
• Funding flipped negative, suggesting sentiment reset and potential fuel for upside.
• Despite overextension, buyers remain in control — no signs of trend breakdown.
• The $41–$45 region remains the near-term target zone once this healthy pullback completes.

Thesis

Hyperliquid is in a strong trending structure and remains one of the more technically sound assets across the board. After a sharp rally, price now appears to be retracing toward support, with the 61.8% Fibonacci at $36.5 acting as a potential base for continuation. RSI has cooled, and the recent negative funding suggests sentiment is balanced — not overheated. Barring any major market shifts, we expect Hyperliquid to resume its uptrend and reach for $45 before any deeper downside is explored. Any dip into support offers a high-probability entry opportunity in trend.

Cryptonary’s Take

Hyperliquid continues to lead with strength. Despite a short-term pullback, the trend is intact, the structure remains clean, and sentiment has reset nicely. With the 61.8% Fib zone lining up at $36.5 and RSI back to neutral, the conditions favor continuation toward $45. We remain bullish and will look to bid pullbacks into support.