Hyperliquid Update: Wave Structure Still Supports Further Upside After May 26 Call

Back on May 26, we highlighted Hyperliquid (HYPEUSD) as one of the stronger-performing crypto assets, noting that the overall wave structure was still pointing toward further upside despite short-term volatility across the market. CHECK IT HERE

Since that update, HYPE has continued to show relative strength and remains one of the better performers within the crypto space.

Currently, Hyperliquid is experiencing a slowdown after its strong advance, but the decline still appears to be unfolding as a corrective move rather than a larger trend reversal. The latest price action suggests that HYPE may be completing wave "c" of an abc correction within a higher-degree wave 4.

The ideal support zone comes in around the 55–50 area, where the correction could potentially find a bottom and allow the next impulsive move higher to develop. If this interpretation remains valid, we could see a bullish continuation into wave 5 of (3) once the current corrective structure is complete.

For now, the key focus remains on how price reacts around the projected support zone. As long as HYPE holds above this area, the broader bullish wave structure remains intact, and the current weakness could simply represent another opportunity before the next leg higher.