HYPE Cryptocurrency Shows Bullish Pattern, Targets 55% Gain

HYPE, a prominent cryptocurrency, is currently exhibiting a rising triangle squeeze pattern, which suggests a potential upward price movement. The pattern is characterized by a series of higher lows and a horizontal resistance level, indicating increasing buyer aggression. Analysts have identified $55 as a potential target price, but for this to materialize, HYPE must first surpass the critical resistance level of $45.

The rising triangle squeeze pattern is a well-known bullish chart pattern that has been used by traders for decades. It is based on the principle that price movements tend to follow predictable patterns, and by identifying these patterns, traders can make informed decisions about when to buy or sell an asset. In the case of HYPE, the pattern suggests that the price is likely to move higher in the near future, provided that it can break through the $45 resistance level.

Market analyst Lennaert Snyder notes that HYPE has been respecting the ascending trendline formed since early May, producing higher lows with each retest. He also points out that the resistance block near $44 has capped multiple rally attempts, making it a significant barrier. According to Snyder, a successful breakout above $45 would unlock upside potential toward $55, aligning with the 1.618 Fibonacci extension level.

HYPE has defended the $36.00 consolidation floor throughout June and early July, while buyers remained active. Snyder adds that this sustained accumulation pattern mirrors HYPE’s earlier breakout in May, where similar price compression triggered a powerful rally. The current daily candle confirms bullish intent, with the price trading at $39.09 at the time of analysis.

Short-term structure on HYPEUSDT reflects strong intraday buyer action, reclaiming critical levels after testing the $39.001 Tokyo low. The hourly chart shows a clean continuation from $39.075 to $39.531, marking a swift rebound into higher levels. Crypto analyst Smith observes that HYPEUSDT broke above $39.473 and retested it cleanly during the New York session. He explains that price reclaimed directional control, printing consecutive hourly highs and targeting the previous session peak at $40.411. Smith believes the dH level near $39.600 is the immediate hurdle before momentum can expand toward $40.800.

With intraday structures now aligned with the higher timeframe setup, traders are watching how HYPE behaves at the $39.800 pivot. The absence of volatility spikes across both sessions reflects calculated positioning from buyers. HYPE currently remains in bullish formation above its trendline, and traders are respecting each higher low. The squeeze within this triangle pattern keeps pressure tilted to the upside.

If bulls retain control over $39.600, HYPE may retest the $42.00-$45.00 range with more impetus. The path toward $55 stays valid as long as structural support holds firm beneath price action. However, traders should be cautious and monitor the price action closely, as a failure to break through the $45 level could indicate that the bullish momentum is waning, and the price may retrace to lower levels.