@starrysilhouette
Hyperliquid (HYPE) turned up from the uptrend line on Tuesday, but the bears are likely to sell at higher levels.
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HYPE/USDT daily chart. Source: Cointelegraph/TradingView
A break and close below the uptrend line invalidates the bullish ascending triangle pattern. That may pull the Hyperliquid price to $40 and subsequently to the solid support at $35.51.
Contrary to this assumption, if the price maintains above $45.50, it suggests that the bulls are buying on dips. The HYPE/USDT pair could then ascend to the overhead resistance at $49.88. This is a crucial level to watch out for because a close above $49.88 opens the gates for a rally to the pattern target of $64.25.
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