How high can HYPE’s price go after Robinhood listing?

Key takeaways:

• HYPE breaks out above key resistance, eyeing a 40% move toward $56.50 by November.

• A drop below the 200-day EMA could invalidate the bullish setup and push the price toward $32–$34.

HYPE, the native token of decentralized exchange Hyperliquid, jumped over 13% a day after listing on US-based trading platform Robinhood; it was trading as high as $40.87 on Friday.

Can HYPE rally further from current levels?

HYPE breakout hints at 40% rally next

HYPE has confirmed a breakout from its multi-week falling wedge pattern, a setup often viewed as a bullish reversal signal.

The breakout occurred as prices surged above the wedge’s upper trendline and the 200-day exponential moving average (200-day EMA; the blue wave), both of which now act as a strong support confluence near the $38 zone.

The breakout was accompanied by a notable increase in trading volume, suggesting fresh buying interest and the possible start of a new uptrend phase.

HYPE may rally toward its wedge upside target of about $56.50, representing a 40% increase from current price levels, by November.

Related: Hyperliquid Strategies wants $1B to buy further into the HYPE

That aligns with analyst Crypto Patel’s upside target above $50, a level sitting around the lower trendline of HYPE’s previous ascending channel, as shown below.

What could change the bullish view?

A drop back below the 200-day EMA would invalidate the bullish setup and hint at a false breakout, sending HYPE’s price toward the wedge’s lower trendline at around the $32-34 range.

Patel sees HYPE falling toward $20 if the price breaks below $32, although he sees strong buying demand within the area.

“That’s where long-term holders should be loading their bags HEAVY,” he wrote, adding:

“Your last line of defense in this bull market is $10, but I seriously doubt we get there.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.