Hyperliquid (HYPEUSD) Begins Its Bullish Waves

Hyperliquid Price Forecast: February 11

Hyperliquid (HYPEUSD) price remains under pressure as it begins its bullish waves, struggling to catch up with the resistance. The crypto is retracing to a new correction with emerging reversal patterns after hitting the $23.31 low level to signal a pump in the crypto price. Thus, a significant push from its current price at the $23.32 supply value above the $28.17 prior barrier level might extend the token price to hit the $30.00 upper resistance level, suggesting a strong potential for coin investors.

Key Levels:
Resistance Levels: $23.00, $24.00, $25.00
Support Levels: $18.00, $17.00, $16.00

HYPEUSD Long-term Trend: Bearish (4H chart)

The HYPEUSD pair shows strength as it reverses its bullish waves below the supply, indicating a bearish trend pattern in its higher time frame. The coin is trading below the EMA-50, confirming a bearish trend.
The sustained bearish pressure at the $23.43 support value in the last session has contributed to the coin price drop below the supply levels in its recent correction.

At the time of writing, the Hyperliquid price pulled back and began its bullish waves at the $23.32 high value below the EMA-50 as the daily chart opens today, demonstrating remarkable resilience in a correcting market.

Hence, a breakout from the $23.32 current supply to hit the $26.85 previous barrier level could attract momentum buyers to potentially propel the price toward the $28.17 peak level.

Additionally, the daily stochastic points up. In light of this, the market participants may witness a new recovery rally to the $30.00 upper high mark in the coming days as the HYPEUSD pair begins its bullish waves in the long-term forecast.

HYPEUSD Medium-term Trend: Bearish (1H chart)

The Hyperliquid pair anticipates an increase as it begins a new bullish wave on the medium-term chart. The price bar is trending below the moving averages, indicating a bearish momentum.
The intervention from the sell traders at the $22.93 low value in the previous action has dropped the coin price below the supply trend line in its recent high.

The market value of HYPEUSD begins its bullish wave to the $23.32 resistance level below the moving averages shortly after the commencement of the 1-hourly chart today, indicating that positive sentiment is returning to the market.

Thus, a sharp breakout above the current correction phase at a $23.32 high value to hit the $26.13 high level will invalidate any bearish thesis and focus on the ultimate breakout to the $27.40 prior peak level.

Furthermore, the daily stochastic is moving upward, indicating more upside potential in the Hyperliquid market. As a result, the coin price may surge to reach the $30.00 upper high mark in the days ahead as it continues with its bullish waves in its medium-term forecast.

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