Right, so HYPE, bless its little cotton socks, seems to be trying to pull a fast one with some sort of “bullish reversal”. Apparently, it’s attempting an inverse head and shoulders pattern, which, if you ask me, sounds like something you’d order at a pretentious spa. 💆♀️ If it actually works, we might just see the end of the current misery and a potential leap towards a whopping $25. Let’s hope it’s not all just hot air!💨
The big moment is when Hyperliquid’s (HYPE) neckline resistance at $17.17. Breaking above this is like winning a small lottery, especially if it’s accompanied by a lot of shouting and volume. This would apparently confirm the pattern and trigger a bullish expansion. The target is $25.05, which they calculated using some sort of complicated math involving measuring the depth of the head to the neckline. Honestly, sounds like something a boyfriend would make up to impress you. 🙄
Key points for the financially challenged:
- The wonky structure of the inverse head and shoulders forming on HYPE.
- Key neckline resistance at $17.17, and the role of volume confirmation. (Whatever that means!)
- A bullish technical target of $25.05, with invalidation at the current swing low. (Sounds like a bad yoga pose.)
HYPE has already formed a left shoulder and a deep head. I feel seen. This apparently indicates a strong retracement and potential bottoming formation. As the price starts to climb from the recent low, the next step is the formation of a higher low, which would mark the right shoulder. Once complete, this signals a potential trend reversal and accumulation phase. Basically, it’s all very dramatic. 🎬
The neckline at $17.17 is the key breakout level. A clean move above it, especially on above-average volume, is essential to confirm the pattern’s validity. Apparently, volume helps distinguish real breakouts from fakeouts. Like distinguishing a real handbag from a market stall special. Traders should monitor the volume profile closely. A strong breakout above $17.17 opens the path toward the $25.05 target. Fingers crossed! 🤞
On the downside, the swing low—the lowest point of the head—remains the invalidation level for this setup. A break below that low invalidates the pattern, and any bullish bias should be reconsidered. However, if the right shoulder forms and holds, this zone offers a strong risk-reward entry ahead of a potential breakout. Like finding a designer dress in the sale! 💃
How to trade this pattern (for dummies):
Wait for a higher low to form (the right shoulder), signaling bullish structure.
- Enter early on strength in that region, or wait for confirmation. (Like choosing the best avocado at the supermarket.)
- Confirmation comes with a close above $17.17 and rising volume. (Or when your crush finally texts back.)
- The target is $25.05 based on the measured move. (Or the price of a decent bottle of wine.)
- Set invalidation below the current swing low for risk management. (Or when your diet goes out the window.)
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2025-04-14 23:05