After dipping below the $30 mark last week, Hyperliquid (HYPE), the native token of the rapidly expanding decentralized exchange (DEX), has recovered by 2% this Thursday, positioning itself to benefit from a broader crypto market rebound that has helped leading cryptocurrencies reclaim key levels.

HYPE Poised for Upside

Market analyst OxMakeSense highlighted a potential roadmap for HYPE to reach $50 in the short term, just below its all-time high of $59. He noted that upcoming levels are filled with untouched liquidity, which could facilitate a climb.

After a month of sustained pressure, HYPE has formed its first solid rebound, signaling easing selling pressure and stronger market responses. OxMakeSense identified the $37–$38 range as a crucial checkpoint, marking the last breakdown. Reclaiming this level could trigger a squeeze of “trapped sellers.”

Surpassing $38 would clear the path toward $41–$42, an area with minimal prior resistance. The analyst also highlighted $44 as a key momentum pivot; flipping this level into support could accelerate gains toward $48–$50, where significant liquidity awaits.

Caution From Other Analysts

Not all analysts share the same bullish outlook. Crypto TXG noted that HYPE lost $35.8 and temporarily bottomed near $28.5. The token is currently testing $35.8 from below, which could act as resistance. A breakthrough may open a path to $42.3, while a failure could trigger a retest of $28.5.

Market expert Ali Martinez also warned that if HYPE retests its breakdown zone, the token could revisit $25, indicating a potential 28% short-term retracement despite the recent uptick.

Outlook

While HYPE shows early signs of recovery, traders should watch key levels: reclaiming $37–$38 and breaking above $44 could fuel a significant rally, while failure at these levels may result in further downside. As always, the interplay of liquidity zones, resistance points, and market sentiment will determine whether Hyperliquid can resume its upward trajectory or face additional retracements.