Hyperliquid price action has confirmed $28.40 as high-timeframe support after a decisive break-and-retest, suggesting a potential shift from corrective consolidation to bullish expansion.
The reclaim of the $28.40 level, previously a structural pivot, was followed by a strong reaction from buyers, indicating renewed demand and reinforcing the validity of the breakout.
Bullish engulfing candles on the retest point to impulsive buying pressure rather than passive accumulation, strengthening the case for a developing trend reversal.
From a market structure perspective, the move establishes the potential for a higher-low formation, which could initiate a sequence of higher highs if support continues to hold on a closing basis.
Traders are also watching the 0.618 Fibonacci retracement just below current support, as a controlled liquidity sweep followed by a bullish reaction would further confirm structural strength.
As long as price maintains acceptance above $28.40, short-term volatility is considered constructive within a broader bullish framework.
If momentum persists, the next major upside objective sits near $48.02, a high-timeframe resistance zone that represents the next significant supply area in a potential expansion phase.
At the time of reporting, Hyperliquid price was $30.70.