Hyperliquid (HYPE) is on the verge of a potential breakout that could push its price into triple digits, with $41 being a key resistance level to watch.
HYPE has been showing strong bullish momentum with consecutive green weekly candles and remains near the top of its range.
On-chain data indicates a notable drop in liquid supply for HYPE, which could accelerate any potential breakout above $41.
Analysts suggest that HYPE's price structure and supply dynamics are aligning for a bullish continuation, with comparisons being drawn to Solana's 2021 surge.
The growth in HyperEVM wallet addresses adds support to the bullish framework forming around HYPE.
Overall, the outlook for HYPE seems positive as it consolidates near resistance levels, with a potential breakout above $41 setting the stage for further upside potential.