Hyperliquid breakout: $20 resistance flip signals 41% upside potential

HyperLiquid has flipped a major resistance level into support at $20, signaling strong bullish momentum. If this level holds, a 41% move toward $29 could be on the horizon. After a series of consistent higher lows and higher highs, Hyperliquid ( HYPE ) has reclaimed a major technical level: the $20 resistance. This breakout confirms that bulls are in control, with price action positioned above a previously significant ceiling. If this newly established support holds, it could fuel a substantial continuation of the current uptrend. Key technical points: Major Resistance Flip : The $20 level, previously a strong resistance, has now flipped into support. Fibonacci Confluence: The 0.618 Fib retracement aligns perfectly with the $20 SR level, offering strong support in the case of a pullback. Next Target: The next resistance lies at $29 — a 41% potential move from current levels. HyperLiquid USDT (4H) Chart, Source: TradingView The price action has established a new high within this trending structure, essential for maintaining bullish momentum. With a clear pattern of higher highs and higher lows, the overall structure remains intact. The breakout above $20 not only confirms bullish intent but also clears the way for additional upside — provided the level is respected during any near-term retracements. Should Hyperliquid pull back from current levels, a retest of the $20 region would be expected. Rather than signaling weakness, this would represent a classic bullish SR (support/resistance) flip — a healthy sign in trending markets. The fact that this zone coincides with the 0.618 Fibonacci retracement adds further weight to its significance. You might also like: Ethereum price reclaims $2000: is this the start of a major bull run? Adding further strength to this scenario is the 0.618 Fibonacci retracement, which aligns precisely with the $20 support zone. The convergence of horizontal SR and Fibonacci support significantly increases the likelihood of bulls stepping in to defend this level, making a continued rally far more probable. From a risk-reward perspective, this zone presents one of the better setups in current market conditions. A bounce from the $20 region could initiate a rally toward the next resistance at $29. If this level is reached, it would represent a 41% gain — a move that would reinforce Hyperliquid’s momentum and strengthen the overall bullish market structure. What to expect in the coming price action If the $20 support holds during any short-term pullbacks, the bullish structure will remain intact, increasing the likelihood of a move toward $29. Traders should watch for volume spikes and daily candle closes above $20 as key signals of continued strength. Read more: Can EOS crypto hit $1 ahead of the final stage of Vaulta rebrand?