Hyperliquid Targeting $110? Could the Current Correction Trigger Another Bullish Rally?

Hyperliquid (HYPE) has entered a corrective phase following a previous bullish move. However, this pullback does not necessarily signal the end of the uptrend. If key support levels remain intact, the correction could create an opportunity for another upward move.

The $82.50–$83.00 range is identified as an important support zone in this scenario. A positive price reaction around this area and a recovery in buying momentum could pave the way toward higher resistance levels and the potential target of $110.

On the other hand, a breakdown below this support zone, followed by sustained trading beneath it, could weaken the bullish outlook and increase the risk of a deeper correction.

At this stage, holding support, rising buying volume, and breaking short-term resistance are three important factors for confirming the continuation of HYPE's bullish trend. Traders may therefore prefer to wait for confirmation of renewed buying strength before considering long positions.