Hyperliquid Eyes $100 as Flag Breakout Strengthens

Hyperliquid (HYPE) is making a strong rebound in early October, nearing the key resistance level of $93.75 after a late-September pullback. As of October 5, the token was trading at $93.07, up 2.81% for the session. Traders are closely watching whether the current flag breakout pattern can propel HYPE toward the $100 mark this month.

The daily chart shows HYPE above the $87.50 pivot, with the Chaikin Money Flow at 0.20, indicating accumulation. However, the weekly Supertrend remains below the price, suggesting caution. CoinGlass data highlights significant liquidation clusters near $95 and $100, which could impact volatility if HYPE continues its upward trajectory.

Analyst Sjuul has identified a flag breakout, suggesting the potential for another record high. If HYPE sustains a move above $93.75, the next resistance levels are at $98, $100, $106.25, and $112.50. On the downside, key support levels are at $87.50, $81.25, and $75.

The weekly chart shows HYPE trading above previous resistance levels from June and July, with the Supertrend line at $61.464. While the broader uptrend remains intact, the daily chart’s resistance levels will be crucial for determining HYPE’s near-term direction. U.S. investors should note that Hyperliquid’s platform excludes them due to regulatory restrictions.