Hyperliquid price action is currently trading into a major resistance zone near $47, an area showing strong technical confluence across multiple higher-timeframe indicators. This region aligns with a previous daily support level, resting liquidity, and a harmonic pivot situated within a larger ABC corrective structure. The combination of these factors makes this one of the most important regions on the chart.
Price has already shown signs of slowing momentum near resistance, suggesting that buyers may be losing strength after the recent expansion higher. If the larger ABC correction scenario begins to play out, the current region could act as the local top before a deeper corrective phase unfolds.
The symmetry of the current market structure indicates a potential move toward the $12 region over time. This target aligns with the projected completion zone of the harmonic correction and would likely represent the area where long-term accumulation and a macro bottom begin to form.
Until price can decisively break and hold above the $47 resistance with strong volume confirmation, the probability of a larger corrective move remains elevated. Traders should closely monitor rejection signals and liquidity sweeps around current levels, as the broader structure suggests that downside expansion may still be ahead before the next major bullish cycle can begin.
Price has already shown signs of slowing momentum near resistance, suggesting that buyers may be losing strength after the recent expansion higher. If the larger ABC correction scenario begins to play out, the current region could act as the local top before a deeper corrective phase unfolds.
The symmetry of the current market structure indicates a potential move toward the $12 region over time. This target aligns with the projected completion zone of the harmonic correction and would likely represent the area where long-term accumulation and a macro bottom begin to form.
Until price can decisively break and hold above the $47 resistance with strong volume confirmation, the probability of a larger corrective move remains elevated. Traders should closely monitor rejection signals and liquidity sweeps around current levels, as the broader structure suggests that downside expansion may still be ahead before the next major bullish cycle can begin.
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