What to Know
- Ali Martinez identified $97 and $163 as HYPE’s next targets.
- HYPE entered price discovery after breaking above key resistance levels.
- The $58.61 zone now serves as critical support for bulls.
Crypto analyst Ali Martinez has identified $97 and $163 as the next major price targets for Hyperliquid’s HYPE token as the asset continues setting new all-time highs. According to Martinez, previous sell signals have now been invalidated, strengthening the bullish outlook for the cryptocurrency. Martinez shared a three-day chart showing HYPE trading near $73 after breaking above a major resistance zone at $58.61. The move has extended the token’s rally and pushed it deeper into price discovery, a phase where an asset trades beyond all previously established highs.
The latest advance comes as HYPE continues outperforming much of the broader digital asset market. Moreover, the sustained climb has reinforced confidence among traders monitoring the token’s technical structure. According to Martinez, the invalidation of earlier bearish signals suggests buyers remain firmly in control. Consequently, market participants are increasingly focusing on the next projected resistance levels highlighted on the chart.
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HYPE Breakout Places Focus on Key Price Levels
The breakout above $58.61 represents one of the most significant developments in HYPE’s recent market structure. That level had previously limited upward movement for several months. However, buyers eventually overcame the barrier and converted it into a potential support zone. Additionally, HYPE’s move into price discovery means traders have fewer historical resistance levels available to guide expectations. Under such conditions, analysts often rely on projected targets and extension levels to estimate where price could move next.
Martinez identified $97.73 as the first major upside objective. A move to that level would represent a gain of more than 30% from the current region around $73. Besides that target, the analyst pointed to $163.77 as a longer-term objective if bullish momentum remains intact. Meanwhile, several support zones continue to attract attention. The most important remains $58.61, which now serves as the primary level traders are watching. Further below, the chart highlights support near $35.11 and $20.97.
Market participants will likely monitor whether HYPE can maintain its position above the former resistance area.Continued strength above that level could support the ongoing uptrend, while a sustained break below it could alter the current technical outlook. HYPE remains in a strong upward trend, with Ali Martinez’s chart highlighting $97 and $163 as the next major targets.
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The post Hyperliquid (HYPE) Enters Price Discovery as Analyst Eyes $97 and $163 Targets appeared first on 36Crypto.