Hyperliquid's native token, HYPE, is showing a price structure similar to Solana's (SOL) early 2021 breakout, which preceded a 300% rally. In January 2021, Solana broke out from a consolidation phase, triggering a surge to around $19 from $4.90 in under two months.
As of May 23, 2025, HYPE's daily chart mirrors this bullish structure after a 270% rebound from $10 lows in April. HYPE broke above its 1.0 Fibonacci retracement level (~$35.88), similar to SOL's 2021 explosive run.
If HYPE follows this pattern, the 1.618 Fibonacci extension level near $51.68 is the next target. The 4.618 level at around $128 could mark the peak, a 240% move from its recent breakout zone near $35.
According to analyst Ansem, Hyperliquid's vision resembles the early partnership between Solana and FTX. He highlights that nearly 97% of trading revenue goes to HYPE tokenholders, potentially driving the token to all-time highs.
Traders are drawn to familiar patterns, as seen in 2017 when Ether (ETH) mirrored Bitcoin's (BTC) 2013 arc. Recognizing HYPE's potential to repeat Solana's trajectory may reinforce bullish sentiment and attract speculators.
This article is based on our author's analysis of materials taken from the following resource: newsbtc.com.