HYPE, the native token of Hyperliquid, is capturing the attention of crypto enthusiasts as it mirrors Solana’s 2021 breakout pattern, setting the stage for a potential 240% rally by July. This uncanny resemblance has traders buzzing with excitement, as HYPE’s recent price action echoes Solana’s explosive ascent four years ago.
A Fractal Déjà Vu
In early 2021, Solana (SOL) burst out of a consolidation phase, propelling itself from around $4.90 to nearly $19 in just two months. The catalyst? A decisive breach above pivotal Fibonacci retracement levels. Fast forward to May 2025, and HYPE is painting a similar picture. Following a robust 270% rebound from its April lows of $10, HYPE has surged past its 1.0 Fibonacci retracement level, landing around $35.88. This move is reminiscent of SOL’s historic rise, igniting speculation that HYPE could be on the cusp of its own parabolic journey.
The HYPE token’s technical indicators add fuel to the fire. Its relative strength index (RSI) has soared above 84, indicating an overbought market—yet also highlighting the momentum’s vigor. This aligns with Solana’s RSI trajectory during its 2021 breakout, suggesting that while caution is advised, the current bullish momentum could have legs. As explored in our recent coverage of Bitcoin DeFi’s potential to surpass Ethereum and Solana, the crypto market is no stranger to rapid shifts in dominance and user adoption.
The Solana-FTX Connection
Adding intrigue to the scenario, popular analyst Ansem draws parallels between Hyperliquid’s ambitions and the early goals of Solana and FTX. “Hyperliquid aspires to deliver a high-performance, low-cost trading experience,” he notes, a vision reminiscent of the Solana-FTX partnership’s initial promise. However, Hyperliquid distinguishes itself with a fully on-chain architecture, a departure from FTX’s centralized model. Ansem highlights that 97% of trading revenue flows directly back to HYPE holders, suggesting that these fundamentals could drive the token to new heights.
History often repeats—or at least rhymes—in the crypto world. In 2017, Ether (ETH) followed Bitcoin’s (BTC) 2013 trajectory, from a parabolic surge to a corrective phase. Traders, ever drawn to familiar patterns, may find solace in HYPE’s echo of Solana’s path. This psychological aspect could bolster bullish sentiment, enticing speculators eager to seize the next “Solana moment.” However, it’s worth noting the broader market context, as detailed in our analysis of crypto token failures since 2021, which underscores the volatility and risks inherent in the crypto space.
Market Sentiment and Skepticism
Despite the optimistic outlook, the market isn’t without its skeptics. Some analysts caution that the overextended RSI could signal a potential pullback before any further gains. The unpredictable nature of crypto markets means that while the stars seem aligned for HYPE, nothing is guaranteed.
Still, the comparison to Solana remains compelling. If HYPE continues to follow this fractal, the next target could be the 1.618 Fibonacci extension level near $51.68, with the 4.618 level around $128 marking the potential zenith of this rally—a staggering 240% climb from its current breakout point.
Ultimately, whether HYPE can replicate Solana’s meteoric rise remains to be seen. As the crypto space watches with bated breath, the unfolding drama raises questions about the sustainability of such patterns and whether HYPE can indeed carve out its own slice of crypto history.
Source
This article is based on: What’s the HYPE about? Hyperliquid’s ‘Solana’ moment eyes 240% gains
Further Reading
Deepen your understanding with these related articles:
- Crypto Coalition Tells SEC Staking Is ‘Essential Good,’ Not a Security
- U.S. Congress Braces for Intense Debate Over Crypto Legislation This Summer (openai)
- Banks Must Adopt Crypto or ‘Be Extinct in 10 Years,’ Eric Trump Says
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
