HYPE/USDT — Rising Wedge After Wave 5 Completion: Reversal?Hyperliquid / TetherKUCOIN:HYPEUSDTCryptoNuclearOn the 1D timeframe, HYPE/USDT shows a clear impulsive structure (Elliott Wave 1–5), where price has likely completed Wave (5) near the upper resistance zone. Following this completion, the market is beginning to show signs of weakening momentum. The current price structure is forming a Rising Wedge pattern, characterized by: Both support and resistance trendlines sloping upward A narrowing range (converging structure) Typically considered a bearish reversal pattern, especially after an extended uptrend Additionally, Wave (3) and Wave (5) peaks suggest a potential bearish divergence (if confirmed by indicators), reinforcing the likelihood of a correction. --- Pattern Explanation: Rising Wedge A Rising Wedge is a technical pattern that commonly appears at the end of an uptrend, with the following characteristics: Higher highs & higher lows within a tightening range Decreasing volume Breakout tendency is usually to the downside (bearish breakdown) In this chart: Price has respected the wedge boundaries multiple times Currently trading mid-range after rejection from the upper trendline --- Bullish Scenario 🚀 Bullish continuation is only valid if: Price achieves a strong breakout above the wedge resistance Daily candle closes above the ~43–45 USDT zone Supported by increasing volume Bullish Targets: 47 USDT (next resistance) 50–55 USDT (previous supply zone) A bullish breakout would indicate a shift into a continuation structure, although this is less common for this pattern. --- Bearish Scenario 📉 (More Likely) The bearish scenario is more dominant due to: The Rising Wedge’s bearish nature Completion of Wave (5) → potential ABC correction phase Rejection from upper resistance Bearish confirmation: Breakdown below the lower wedge trendline Daily close below the 38–39 USDT area Bearish Targets: 35 USDT (minor support) 32 USDT (previous Wave 4 structure) 28–30 USDT (strong demand zone) If selling pressure increases, a deeper correction may unfold as part of an A-B-C corrective structure. --- Conclusion: HYPE/USDT is currently at a critical point. With the completion of Wave (5) and the formation of a Rising Wedge, the probability of a correction is increasing. Traders should wait for a clear breakout or breakdown confirmation before entering positions. #HYPEUSDT #CryptoAnalysis #TechnicalAnalysis #RisingWedge #ElliottWave #BearishSetup #BullishBreakout #CryptoTrading #Altcoins #PriceAction #MarketStructure