Hyperliquid is pressing against key resistance near $41, with tightening supply and strong weekly closes hinting at a potential breakout toward new highs.
Hyperliquid might be closing in on a breakout that could push the price into triple digits. After holding firm near the $40 mark and printing back-to-back green weekly candles, the chart now shows serious pressure building just below key resistance. Market participants say a breakout above $41 could unlock a fast move toward the $47 to $50 range, and potentially beyond.
Hyperliquid Holds Weekly Gains
Hyperliquid remains firm on the weekly chart, printing its second consecutive green candle and holding near the top of its recent range. The price has been hovering around the $39 to $40 zone, consolidating just below local resistance around $41.
DegennQuant believes this pause in momentum is due to the base-building phase after a strong multi-week run. The wick rejections on the downside also show buyers are still defending dips.
Hyperliquid holds near the top of its range with consecutive green weekly candles, signaling strong bullish momentum. Source: DegennQuant via X
If price breaks and closes above $41 on the weekly timeframe, it could trigger a fresh leg higher into the $47 to $50 zone as the next major level to watch. Until then, this slow grind near highs is healthy. Momentum remains intact, and unless the structure breaks below $35, the broader trend continues to favor a bullish continuation.
HYPE Supply Dynamics Signal Strength
While HYPE’s price consolidates just below resistance, fresh on-chain data from Henrik reveals a notable drop in liquid supply. Since the start of June, the ready-for-sale supply has fallen from 106 million to 97 million, a nearly 9 million reduction in just over a month. It’s a significant reduction that signals tokens are being pulled out of circulation, either locked, staked, or otherwise sidelined from active selling.
HYPE’s liquid supply drops by 9 million in just over a month. Source: Henrik via X
This supply-side shift gives more credibility to the ongoing consolidation. With less available supply, any breakout above $41 could move quicker than expected. When price holds near highs and supply tightens in the background, it’s a clear stage for an upside follow-through.
HYPE Approaches Breakout Point
HYPE is pressing right up against the $40 mark for the last several hours. Crypto analyst Sensei suggests this has made the resistance region weaker due to ongoing tests, and this could now soon lead to a major bullish breakout. The supply levels have already dropped, and now lack of strong rejections at this level hints that sellers may be thinning out.
HYPE continues to test the $40 level, with weakening resistance hinting at a possible breakout. Source: Sensei via X
With this kind of structure, the key to watch is whether buyers can push through $41 with strength. If that breakout comes with volume, the next target zone opens toward $46 and potentially $50, aligning with previous candle wicks and psychological levels.
Hyperliquid Price Prediction: Could HYPE Echo Solana’s 2021 Surge?
A new chart overlay from CryptoSamWilson draws a bold parallel: if Hyperliquid follows a similar price trajectory to Solana’s 2021 run, the upside potential expands dramatically. SOL famously rallied from $2 to over $200 in that cycle. With HYPE currently priced near $39, the overlay projects what a comparable curve might look like, stretching into triple digits.
A new chart overlay compares HYPE’s structure to Solana’s 2021 run, hinting at triple-digit potential. Source: CryptoSamWilson via X
Whether or not HYPE follows Solana’s footsteps, the idea isn’t entirely far-fetched given the tightening supply dynamics and strong price base around $35 to $40. Technicals continue to show consolidation near resistance, and if this structure evolves similarly, Hyperliquid breaking through $50 could be the opening move of a much larger trend.
HyperEVM Wallet Growth Supports HYPE’s Bullish Framework
The growth continues across the Hyperliquid ecosystem, with wallet addresses on HyperEVM now crossing the 300,000 mark. The numbers are growing, and this signals that more participants are entering the network. While price action hovers below key breakout levels and supply tightens in the background, this increase in on-chain adoption adds another layer of support to the broader bullish structure forming around HYPE.
HyperEVM wallet addresses surpass 300,000, signaling rising adoption within the Hyperliquid ecosystem. Source: Hyperliquid News via X
Final Thoughts: What Next For HYPE?
Hyperliquid feels different from most tokens right now. While much of the market is still finding its footing, HYPE is quietly stacking up strong weekly closes, tightening its supply, and pulling in more users through HyperEVM.
As long as it continues holding above $35 and pressing against that $41 resistance, the breakout case remains solid. Whether it ends up mirroring Solana’s path or carving out its own, HYPE is starting to lean toward a bullish Hyperliquid price prediction.
