Hyperliquid’s native token HYPE staged a dramatic run into early February — peaking at $38.42 — a move AMBCrypto characterized as a bullish structural shift. What followed was a classic retracement: a pullback that hunted long positions and corrected the rapid advance.
What happened
- AMBCrypto had warned that a large cluster of long liquidations sat below $30. That vulnerability was exploited when Bitcoin slid to about $64.3k on Sunday, helping push HYPE back under $30 and briefly below $28 as longs were liquidated.
- Despite the short-term shakeout, Hyperliquid continues to attract capital, with sizable inflows into the ecosystem. That on-chain interest and DEX activity underpin a positive long-term outlook for the token and platform.
Technical picture
- Weekly view: The 1-week chart retains a bullish structure. The January drop to $20.48 is being treated as part of a corrective retracement rather than a trend reversal. The Fibonacci “golden pocket” for the swing ranges roughly from $28.44 down to $20.02 — an area traders often watch for strong support and reversal signals.
- Daily view: The 1-day chart shows a bullish swing structure after HYPE breached the previous lower high at $28.4 (first week of January) and ran to $38.42 in early February. Over that stretch HYPE outperformed many major crypto assets.
- Retracement: The pullback that pushed price below $30 on February 10 led to losses and liquidations for traders positioned for immediate continuation. AMBCrypto frames this decline as a healthy retracement within a longer bullish setup.
Key levels to watch
- $24.30 — critical to defend. This level corresponds to the 78.6% Fibonacci retracement of the bullish swing and lines up with a daily-chart imbalance (a "white box") that could be filled before the next leg up. Many swing traders and investors may look for confirmation here before adding fresh longs.
- $23.40 — early invalidation. A close or sustained move below this would signal the bulls are struggling to reclaim control and would put the bullish thesis at risk.
- $20.00 — decisive bearish confirmation. A move beneath $20 would confirm bearish strength and require buyers to wait for an internal structure shift before considering new long positions.
Outlook and risks
- Fundamentals are supportive: capital inflows and growing DEX activity give HYPE a constructive long-term narrative.
- Risks remain: macro conditions and ongoing BTC volatility can delay or disrupt any bullish continuation. Short-term price action will likely be driven by Bitcoin swings and liquidity hunts around the levels noted above.
Disclaimer
This article is informational and reflects the writer’s opinion. It is not financial, investment, or trading advice. Cryptocurrency trading carries high risk; readers should do their own research before making any decisions.
© 2026 AMBCrypto
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