How Much Will HYPE Price Surge Following Robinhood Listing?
HYPE is poised for a significant price increase of 40% after its recent listing on Robinhood, according to market trends.
HYPE has demonstrated a strong breakout after being listed on Robinhood, indicating a potential rally of 40% this November. This token of the decentralized exchange Hyperliquid has surged by over 13% just one day post-listing, reaching a peak of $40.87.
Key Insights:
- HYPE is breaking out beyond pivotal resistance, targeting upwards of $56.5.
- Beware that a dip below the 200-day EMA could derail its bullish trajectory, pushing prices toward $32-$34.
HYPE/USDT Hourly Chart
HYPE/USDT hourly chart. Source: TradingView
A bullish breakout has been confirmed, indicating a reversal from a multi-week falling wedge pattern. During this breakout, prices climbed above both the wedge’s upper trendline and the 200-day exponential moving average, reinforcing strong support near the $38 level.
HYPE/USDT Daily Chart
HYPE/USDT daily chart. Source: TradingView
This surge is reflected in increased trading volumes, suggesting a renewed interest in buying and the potential for a nascent uptrend.
If bullish movements continue, HYPE could approach the target of approximately $56.50, marking a 40% gain from current valuations.
Related: Hyperliquid Strategies seeks to raise $1B to buy more HYPE
Analyst Crypto Patel has also set a target above $50, noting this mark corresponds with the lower boundary of HYPE’s previous upward channel.
HYPER/USDT Two-Day Price Chart
HYPER/USDT two-day price chart. Source: TradingView
What Could Negate this Positive Outlook?
Should HYPE’s price drop back under the 200-day EMA, the bullish outlook will be compromised, implying a potential false breakout and aligning with lower targets of around $32-$34. Patel estimates that if the price falls below $32, HYPE might decline to the $20 range, but he anticipates robust buying interest at those levels.
“Your last line of defense in this bull market is $10, but I seriously doubt we get there.”
This article does not constitute financial advice. Every investment carries risks, and it is essential for individuals to conduct thorough research before making decisions.
