Technical analysis by The_Alchemist_Trader_ about Symbol HYPE: Buy recommendation (11 hour ago)

For weeks, Hyperliquid has traded within a well-defined channel. Price is now approaching the point of control, 0.618 Fibonacci, and VWAP SR, creating a major confluence zone that could trigger a strong reversal. Key Technical Points - Channel Structure: Price oscillating between support and resistance. - Confluence Support: POC + 0.618 Fibonacci + VWAP SR. - Upside Potential: Swing trade setup offers 30%+ move. Analysis The channel remains highly respected, with every test of its boundaries leading to a decisive reaction. The current support cluster presents a high-probability reversal zone. If defended, price could rotate back to channel highs, creating a swing-trade opportunity. However, sustained volume is required to confirm a bounce. Without inflows, price risks grinding lower within the channel before attempting another breakout. What to Expect Hyperliquid remains bullish while the channel structure holds. A reversal from support could yield a 30%+ upside move toward the highs.