ONE Chart. SIX targets. Thats HYPE!The hyperliquid chart is showing signs of a head and shoulders pattern.
#HYPE has certainly garnered significant attention and acclaim for being one of the few altcoins to experience a surge this cycle.
This is due to the development of an innovative product: a decentralized perpetual DEX.
It has achieved product-market fit.
Receiving considerable attention on X.
However, it is not larger than the ongoing cycle.
At one point, they were purchasing $83M worth of tokens each month—this is why it has created a distorted head and shoulders pattern with multiple necklines.
Yet, in the world of crypto, if you develop something useful,
the code, idea, or platform will inevitably be replicated.
This highlights the fundamental issue with altcoins: the absence of a competitive moat and long-term sustainability.
Recently, they began unlocking a substantial amount of tokens, and it is likely that the team is offloading them through OTC transactions.
While innovation and profitable dapps are commendable... they can also become problematic.
Here are some bear targets for your consideration.
Which you can use to your advantage on their perp DEX ;)
