Hyperliquid (HYPE) Price Prediction: $80 Wick Fill in Sight if Key Support Triggers Breakout

Hyperliquid has slipped back under the $40 mark, sparking fresh talks about whether the $32 support zone could be the next battleground. The broader crypto market is also cooling down, with even traditional indices. This mix of weak momentum and cautious sentiment has participants on alert, wondering if HYPE’s latest drop is just a healthy pullback or the start of a deeper correction.

Hyperliquid is beginning the week under pressure, with the chart showing a clear breakdown that puts the $32 support zone back into focus. Analyst MetamateDaz notes that broader momentum across crypto, and even traditional indices like SPX, appears to be fading. This confluence of weakness is feeding into HYPE’s current retracement, with price now sitting just below the $40 mark after failing to reclaim the breakdown level.

Hyperliquid slips below $40 as lower highs stack up, with $32 emerging as the next major bid zone. Source: MetamateDaz via X

What stands out technically is the consistent series of lower highs pressuring the price into tighter ranges. This structure often leads to flushes toward the next strong bid zone, and in this case, bids near $32 are already being discussed.

The latest snapshot from MetamateDaz reveals some major bid walls stacked in the order book for HYPEUSDT, particularly at the $32 mark, aligning perfectly. A whopping 267,000+ in size is sitting at that level, making it the most substantial support zone on the book right now. Just above it, $34 and $33 also show decent absorption interest, suggesting the market is preparing for a potential liquidity grab before any bounce attempt.

Hyperliquid’s order book shows over 267K in bids stacked at $32, signaling strong demand if the price dips lower. Source: MetamateDaz via X

While price action leans shaky, Hyperliquid’s core fundamentals are still managing to hold strong. The platform has now surpassed $2.7 billion in TVL, a record high, alongside an all-time perps volume of $18.9 billion and over $2.1 trillion in lifetime trading activity. With 597,000 users onboarded and $4.7 billion in stablecoins on-chain, Hyperliquid is outpacing many centralized exchanges in derivatives traction, as shown by Token Metrics.

Hyperliquid hits $2.7B TVL and $2.1T in trading volume, reinforcing long-term strength despite short-term price weakness. Source: Token Metrics via X

This kind of growth adds context to the current retracement, helping explain why large bids are waiting around the $32 level. Even if short-term charts flash warning signs, the long-term adoption metrics show a platform firmly in expansion mode. As long as these fundamentals stay intact, any dips may remain of interest for the participants.

While most are watching for weakness, Tushar Shetty’s chart flips the narrative, showcasing Hyperliquid respecting its multi-month ascending channel with precision. The recent dip is still comfortably within the lower third of the trend, and if history repeats, this zone could serve as the next springboard. This chart dismisses short-term panic. Despite broader market hesitation, HYPE hasn’t broken trend; in fact, it’s still printing higher lows on larger timeframes.

Hyperliquid continues to respect its ascending channel, with higher lows intact and $50 still in sight. Source: Tushar Shetty via X

Jesse Peralta’s chart puts forward a bold but technically grounded idea: what if HYPE fills the full listing wick gap? The listing candle marked a high just shy of $80, and the current structure shows Hyperliquid trending cleanly along an ascending base with no major breakdowns. The slope of the trendline remains respected since launch, and the recent impulse off support hints that bulls are still defending every retest.

Hyperliquid holds trendline support with eyes on a potential $80 wick fill if mid-$40s are reclaimed. Source: Jesse Peralta via X

While short-term momentum has taken a breather, this kind of chart structure with clean higher lows, tight consolidation, and explosive breakouts often fuels continuation when met with renewed volume. If price regains the mid-$40s and flips it into support, that “gap fill” scenario towards $80 is likely to come into play.

Hyperliquid’s short-term chart may be flashing warning signs, but the fundamentals tell a different story. With over $2.7 billion in TVL and a growing user base, the project continues to outpace many competitors, even as price pulls back. If buyers defend the $32 zone and reclaim key resistance levels near $45, a move towards $50 or even the $80 wick fill could come back into play.

That said, if the $32 support fails to hold, it could open the door for a deeper correction. But for now, the blend of heavy bid interest, strong on-chain metrics, and respected trendlines on higher timeframes still keeps the bullish case alive.