HYPE Nears $60 As Hyperliquid Rally Runs Into Warning Signals

Hyperliquid’s HYPE is closing in on one of its most important short-term price zones after a powerful run that has made the token one of the strongest large-cap crypto trades of the month.

A fresh technical setup shared by Ali Martinez placed HYPE near a critical $59 to $60 resistance area after a reported 55% weekly rally and year-to-date gains above 130%. Live market data has moved since the post, with HYPE trading near $57.46, up about 26.9% over the past seven days, on roughly $1.42 billion in 24-hour volume.

The resistance area is important because HYPE has already made a sharp vertical move into a zone where momentum traders, whale buyers and early holders are all watching the same price band. A clean break above $60 would put record highs back in play and force short sellers to manage risk quickly. A rejection would turn the rally into a more fragile test of whether buyers can defend the high-$50s after a fast expansion.

The latest setup builds on the same market structure that recently pushed HYPE toward the $59 area as a16z-linked wallets added exposure. That earlier move framed $59 as the next major upside test. The new technical warning makes the same zone more dangerous because price is arriving there with several stretched momentum readings.

Indicators Flash Pullback Risk

The warning signs are clustered around exhaustion rather than a confirmed breakdown. The TD Sequential has printed a Combo 13 sell signal, while RSI remains in overbought territory and the Chande Momentum Oscillator is sitting at historically elevated levels. Those readings do not mean HYPE must reverse immediately, but they show the rally is entering a zone where upside can become harder to sustain without fresh volume and stronger spot demand.

The path described in the setup still leaves room for one more push. HYPE could move toward $59 or slightly above $60 before momentum fades. That kind of final spike is common when crowded upside trades approach obvious resistance, especially if late buyers chase the breakout and shorts get forced to cover.

The risk is what happens after that first test. Martinez’s chart points to a possible pullback toward the $40 area if momentum stalls. A move that deep would not erase HYPE’s broader 2026 gains, but it would reset the current rally and test whether the market is pricing Hyperliquid’s growth or simply chasing the strongest chart.

Hyperliquid’s own trading activity keeps the setup highly liquid. Its derivatives exchange is processing about $8.5 billion to $9.3 billion in 24-hour futures volume, with open interest near $9.57 billion. That gives HYPE more market attention, but it also means leverage can amplify both directions if price starts moving quickly around the $60 level.

HYPE now has a clear technical line in front of it. A strong close above $60 would keep breakout momentum alive and put record highs back on the chart. Failure near that band would shift attention to the high-$50s first, then the mid-$40s and $40 area if overbought momentum starts unwinding into heavier selling.

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