Hyperliquid & the rest of the market —sure to get higher pricesHyperliquid / TetherKUCOIN:HYPEUSDTMasterAnandaThis is an interesting chart based on how the action is happening around the Fibonacci support levels. The down-move ended right at 0.786 Fib. retracement. This happened late January. From here on we see the first recovery sending prices back above 0.618, resistance found at 0.5 leading to a retest of 0.618. As usual, the trading went below this level just to recover, a higher low and we get the present chart. Bullish potential is revealed because HYPE's price is consolidating above support and not below. If the current consolidation happens below 0.618, then we will read this as the bears having the upper-hand. Since it is happening above, we favor the bullish bias. Market conditions can change though. There is another interesting fact, both EMA55 & EMA89 have been conquered as resistance. These two have a reading of $29.5 and $30.15 respectively. HYPEUSDT currently trades at $31.19. The MACD entered the bullish zone and the RSI as well. The chart looks weak, currently, but it cannot be denied that HYPEUSDT is taking a pause after breaking and retesting multiple resistance levels, and this can result in a bullish continuation. There isn't a major low 6-February nor lower lows present on this chart, which is interesting also as the market was mostly bearish around this date. The peak of the previous expansion phase happened around September last year, together with most of the market. Seeing how there is no bearish resumption, so far, can support a bullish wave. A break below 0.618 Fib. retracement would weaken the bullish potential of this chart but it wouldn't be fully nullified. Bullish potential remains active as long as HYPEUSDT trades above the 21-January low, around $20.48. There is plenty of room for price fluctuations. While still in consolidation, this chart favors additional growth. Namaste.