Hyperliquid Faces Resistance at $41.55, Potential Correction Ahead

Hyperliquid has encountered a significant resistance zone at $41.55, where the Golden Pocket Fibonacci retracement intersects with previous price levels. This confluence of technical indicators suggests a potential for a corrective phase, as momentum appears to be waning and an ABC corrective pattern may be forming.

Following a robust rally, Hyperliquid has reached a critical juncture at $41.55, a level that previously acted as horizontal resistance and now aligns with the 0.618 Fibonacci retracement, commonly known as the Golden Pocket. The price action indicates hesitation, implying that the impulsive leg of the move may have concluded, and a corrective phase could be initiating.

Key technical points to consider include the $41.55 resistance zone, which is a confluence of the Golden Pocket Fibonacci retracement and prior highs. Additionally, there are signs of an ABC retracement forming following the completion of an Elliott Wave 5 structure. The $26.53 support region is another crucial level, serving as high time frame support and the next Fibonacci level below the current price.

From a technical standpoint, the impulsive breakout in Hyperliquid appears to have reached exhaustion after completing a five-wave Elliott structure. The current stall under $41.55, a level that has historically acted as both resistance and a Fibonacci retracement, is characteristic of topping behavior before a correction. The price has entered a consolidation phase, aligning with the beginning of an ABC corrective structure.

If this corrective structure unfolds, the price may begin retracing toward the next key support near $26.53. This level coincides with a lower Fibonacci level and high time frame demand, aligning with prior market structure and serving as an ideal candidate for a macro higher low. This would allow the broader bullish trend to remain intact while resetting momentum indicators.

The current market behavior does not indicate aggressive selling or a breakdown; instead, the market is rotating sideways under resistance. This supports the notion that any correction, if it occurs, may be orderly and provide an opportunity for accumulation. Unless bulls reclaim the $41.55 zone with strong momentum, the path of least resistance remains to the downside for now.

In the coming price action, if Hyperliquid fails to reclaim $41.55, a pullback toward the $26.53 support region is likely. This correction would be considered structurally bullish as long as support holds and a higher low is formed. Traders should monitor for either an increase in volume near support or a breakout through resistance to confirm the next directional move.