Hyperliquid ’s bullish market structure remains intact, with price consolidating just below its $49.86 all-time high. Strong support at $42.24 and rising volume signal the potential for a breakout into price discovery. Summary Price consolidating below $49.86 all-time high with strong bullish structure. $42.24 major support flipped from resistance, holding as a demand zone. Sustained bullish volume increases breakout probability into price discovery. Hyperliquid (hype) has shown remarkable resilience, maintaining its bullish momentum with a series of higher highs and higher lows. Price action recently approached its all-time high, slightly front-running the $49.86 level, and now sits above a critical support zone that could fuel the next leg higher. Key technical points Major Support at $42.24: Former value area high, now flipped into support. All-Time High at $49.86: Key resistance level to break for price discovery. Bullish Volume Profile: Sustained influxes of demand at higher levels. HYPEUSDT (1D) Chart, Source: TradingView Hyperliquid ’s bullish momentum continues to build, driven by a market structure that has consistently delivered higher lows and higher highs. The recent rally brought price within striking distance of its $49.86 all-time high before a minor pullback. This consolidation phase is occurring above $42.24, a critical high time frame support previously acting as the value area high. Flipping this zone into support has reinforced its importance, and holding it on retests will confirm ongoing demand from buyers. This move higher also followed a liquidity run, reducing the likelihood of a deep retracement. The $42.24 level’s confluence with the former value area high makes it a natural launchpad for another rally attempt toward new highs. Below it, the point of control acts as the next significant structural and volume-based support — but price has not returned to this region since reclaiming it, further underscoring market strength. You might also like: These 3 crypto below $1 have massive growth potential From a volume perspective, Hyperliquid continues to show healthy bullish influxes, reflecting strong interest and demand at these levels. A sustained rise in volume on any breakout attempt would provide additional confirmation for further upside. As long as this buying activity remains steady, the probability of taking out the $49.86 all-time high and entering price discovery significantly increases. What to expect in the coming price action If $42.24 support holds, Hyperliquid is well-positioned to test and potentially break its $49.86 all-time high. A confirmed breakout with volume expansion could trigger an accelerated rally into uncharted territory. It is important to monitor how the volume profile behaves during the breakout. Read more: NovaEx unveils zero-slippage trading suite with insurance-backed execution guarantees