Hyperliquid Setup: Breakout Opportunity or Pullback Risk?

[etfs]

HYPE/USDT daily chart. Source: Cointelegraph/TradingView

Hyperliquid is currently holding a key support zone between $36.77 and the 20-day EMA, making this a critical level for traders. If the price bounces from this area, it signals strength — and a potential move toward $43.77, with upside targets near $50 if momentum builds.

For traders looking to make money, this is a classic support play. Buying near strong support with clear invalidation (below $36.77) offers a favorable risk-reward setup. However, if support breaks, the trend could shift bearish quickly — making patience and confirmation essential.

[mendez]

“classic support play” until it nukes straight through support, as tradition