Despite the broader crypto market leaning bearish, Hyperliquid (HYPEUSD) continues to show a relatively strong bullish structure on the chart. Price action has already retested recent highs, in line with prior expectations, but the broader structure still suggests the move may not be fully complete.
At this stage, price could still be unfolding within a wave iv corrective structure, which may take the form of a running flat, bullish triangle, or an irregular flat correction. All of these patterns are typically consolidation phases within a larger impulsive trend, often preceding continuation in the original direction.
Alternatively, the current slowdown could be part of a higher-degree wave 4 correction, where the market temporarily pauses before the final impulsive extension higher.
In both interpretations, the key area to watch remains the 55–50 support zone. This region is likely to act as a structural pivot point. As long as price holds above this support band, the bullish scenario remains valid, with potential for a renewed upward impulse into a developing wave 5.
A decisive breakdown below this zone would weaken the bullish structure and increase the probability of a deeper corrective phase. However, as long as support holds, the broader trend bias continues to favor upside continuation after consolidation completes.
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