Is HYPE Set for a $50 Breakout? Chart Says Yes

TL;DR HYPE trades inside a bullish ascending triangle, with higher lows pressing against the $50 ￰0￱ Fund buybacks remain close to market levels, reducing supply and steadying price ￰1￱ net outflows show tokens leaving platforms, easing selling pressure and helping stabilize ￰2￱ Triangle Takes Shape HYPE/USDT 12-hour chart is showing an ascending triangle, a structure traders often associate with bullish ￰3￱ formation is marked by horizontal resistance near $49–$50 and a trendline of higher lows that has been in place since late ￰4￱ analyst BATMAN said , “$HYPE is forming a textbook bullish ascending triangle ￰5￱ day it’s compressing more and more, so let’s hope we get one more retest toward the bullish trendline before it breaks out.” The asset has retested the rising support several times, with buyers stepping in at higher levels.) was trading at $46 at press time, with a 24-hour volume of $270.6 ￰6￱ token is up slightly over the last day and 4% across the past ￰7￱ price continues to move within the consolidation range that has held through most of the ￰8￱ Schamis, partner at Atlas Merchant Capital, noted in an interview with Bloomberg, “The exchange (Hyperliquid) generates revenue and buys the token every day…A massive burn rate, unlike BTC or ETH.” He was referring to the buyback program, which has already removed more than 30 million HYPE from circulation.

Notably, figures comparing daily closes with Assistance Fund buybacks show the program closely aligned with market ￰9￱ September 4, HYPE closed at $46 while the average buyback price stood at $45 for 56.98K HYPE.