Hyperliquid’s HYPE Breakout Puts $100 Price Target in Play

HYPE has jumped more than 30% in five days to a record near $74 after breaking out of a bull pennant, a move that places a measured upside target around $105.30. The pattern formed when a sharp late-May rally created the flagpole and a brief consolidation tightened into a symmetrical triangle, with the breakout occurring on rising volume.

Momentum looks stretched: HYPE’s relative strength index topped 77, putting the token in overbought territory and increasing the chance of a short pause or correction. If profit-taking accelerates, HYPE could retest the 20-day exponential moving average near $58.32, and a decisive break below that level would weaken the pennant setup.

Derivatives data add a bullish tilt. Coinglass shows open interest at a record $3.5 billion, up from about $1.41 billion at the start of the year, and an open interest-weighted funding rate near 0.0050% every eight hours, which means longs have been paying shorts.

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