Hyperliquid's Ascending Triangle Breakout Sets Stage for $90 Target

The Hyperliquid (HYPE) token has been trading near record levels after a strong recovery in August. According to data from Bybit and CoinGecko, HYPE's recent all-time high stands at $83.27.

An ascending triangle formation identified by SatoshiFlipper on the one-hour chart suggests that a breakout above $83 could be imminent. This pattern typically develops when buyers continue to push successive lows while sellers defend a relatively fixed resistance level.

Historical data shows HYPE's price action from mid-August, where it traded near $56.88 before climbing to $73.73 on August 20 and $82.15 on August 23. The token subsequently pulled back but remained near the $80 level.

A breakout above $83 would strengthen the ascending-triangle setup and put $90 into focus. However, a move toward $97 would require a larger extension and depends on the monthly bullish structure continuing to develop.