HYPE Rises 5.3% to $29.51, Holds Support as $29.77 Caps Wedge-Driven Move

• Price remains above the $27.97 support level, keeping downside movement contained within a defined range.
• The $29.77 resistance level continues to cap price action, shaping HYPE’s short-term trading range.
• HYPE posts a 1.2% gain against Bitcoin despite controlled movement in USD terms.

Hyperliquid’s native token, HYPE, has returned to market focus as price action aligns with a clearly defined technical structure. At the time of writing, Hype traded at $29.51, reflecting a 5.3% daily increase. The move followed renewed attention on wedge-based chart behavior, highlighted by historical comparisons to a prior breakout phase. Current conditions, however, show measured movement rather than sharp expansion, with price holding between established technical levels.

Price Holds Above $27.97 as Structure Guides Trading

HYPE maintained position above its identified support level of $27.97, keeping downside pressure contained. Notably, this support has remained intact during the latest session, reinforcing its relevance within the current range. Price action stayed constructive without abrupt extensions, which helped preserve orderly market conditions.

Meanwhile, the 24-hour range showed price approaching resistance without breaching it. HYPE’s resistance stands at $29.77, a level that capped upward movement during the session. However, price continued to trade close to this boundary, keeping attention on near-term interactions between buyers and sellers.

As this structure holds, traders have focused on how price behaves within these limits. This setup creates continuity between recent gains and the broader technical framework. That continuity sets the stage for examining how HYPE behaves across different trading pairs.

Cross-Pair Divergence Emerges as Structure Remains Intact

Against Bitcoin, HYPE traded at 0.051362 BTC, marking a 1.2% increase. This move contrasted with the token’s dollar-based advance, highlighting differences across markets. Notably, relative strength against Bitcoin developed alongside stable dollar pricing.

This divergence across pairs added another layer to the current structure. However, price action remained controlled, with no sharp dislocations between markets. Instead, the data reflected incremental adjustments across trading pairs.

As these relative moves unfolded, attention shifted back to the broader chart pattern that continues to frame expectations. That context helps explain why traders remain focused on structure rather than acceleration.

HYPE Trades Within Defined Wedge Range as Focus Shifts to Key Levels

The current focus follows renewed discussion around wedge formations on higher timeframes. Previously, similar structures preceded a sharp percentage move. However, current conditions differ, as price behavior remains range-bound and orderly.

Notably, HYPE now trades within a clearly defined zone, supported at $27.97 and capped at $29.77. This range emphasizes level interaction rather than momentum-driven extension. As a result, market participants continue to track how price responds near these boundaries. HYPE’s current positioning reflects a market guided by structure and reference points.