Hyperliquid (HYPE) Consolidation Phase Could Spark Next Major Move

Hyperliquid (HYPE) maintained a solid trading range between $28 and $37 on Tuesday, February 17, despite turbulence across the crypto market, demonstrating remarkable stability, according to the crypto analyst Crypto Pulse. 

Traders are drawn to such structure, as it allows for clearer entry and exit strategies. The token’s consistent behavior highlights investor confidence, making it a standout amid the broader market’s unpredictable swings.

Source: Crypto Pulse X Post

Approaching the lower boundary at $28, HYPE could present an attractive buying opportunity if it shows signs of strength. 

Historically, support zones like this can spark rebounds, creating favorable risk-to-reward setups. A bounce here may push the price back toward $37, while a breakdown below $28 could signal caution. Traders are watching closely for the next move.

Also Read: Hyperliquid (HYPE) Holds $29 Support, Eyes Breakout

HYPE Price Bounce Signals Short-Term Bullish Momentum

According to TradingView, as of Tuesday, February 17, the price has rebounded from the lower Bollinger Band, indicating that the price is oversold in the short term. 

The price is currently trading at $30.666, which is above the 200 EMA at $29.540. This shows that long-term support is still intact. 

The 20 and 50 EMAs are slightly above the current price, indicating short-term resistance levels, while the Bollinger Bands are moderately widened, indicating that the market is moderately volatile.

Source: TradingView

The latest downtrend began on February 5-6, with consolidation at levels of $29.5 to $32. The price has continued to touch the lower Bollinger Band while staying above the 200 EMA, thus creating a support zone at levels of $29.5 to $29.6. 

Bullish momentum is building up in the short term, with a 2.66% candle rise, which could indicate a rise to resistance at the levels of the 20 EMA, the 50 EMA, and the upper Bollinger Band at $32.5.

Momentum Indicators Show Early Signs of Momentum

Looking at this chart, it can be seen that the RSI is at approximately 49.5, close to the neutral level of 50. This shows that the asset is not overbought or oversold; thus, there is a fair balance between buyers and sellers. 

The yellow signal line is at 46.99, which is a smoothed version of the recent RSI movements, showing a slight bullish signal after a drop in the RSI.

Source: TradingView

The MACD indicator indicates that the blue line is at -0.23773, which is lower than the orange line at -0.11556. However, the diminishing bars on the histogram suggest a potential crossover. 

The neutral reading on the RSI combined with the diminishing bars on the MACD suggests that the market may be consolidating before it makes its next move.

Also Read: Hyperliquid (HYPE) Signals Accumulation as Bulls Prepare for Potential Rally