Hyperliquid's HYPE token climbed to $95.681 on Sept. 21, extending its recovery from the $77-$80 range and putting the $96-$100 area in focus as key resistance. Analyst Crypto Patel identifies $95 as the neckline of an inverse head-and-shoulders pattern and says a strong daily close above it could open a path toward $150, while a rejection could expose the token to a pullback toward the $50-$53 support zone.

Patel published the setup in an X post, with the accompanying chart available on TradingView.

HYPE Pushes Toward $100 After Sharp Recovery

The latest four-hour KuCoin candle opened at $94.208, reached $96.017 and settled at $95.681, adding $1.474, or 1.56%, during the session.

HYPE traded near $59-$60 in late August before climbing above $70. It then consolidated between roughly $78 and $85 before advancing again. In early September, the token reached about $88-$89 before correcting toward $77-$80 between Sept. 12 and 16. The price subsequently reversed and moved back above $85 and $90.

That recovery carried HYPE close to $96, with resistance now clustered around $96-$100. Support has emerged near $90, followed by $85 and the $78-$80 band.

Crypto Patel Watches the $95 Neckline

According to Patel, HYPE is forming an inverse head-and-shoulders structure near a major top. In chart analysis, the formation consists of three troughs with the middle one deepest, and the neckline — $95 in this case — connects the highs between them; a sustained close above that line is how traders typically confirm the pattern, while a failure back below it counts as invalidation. He noted that such patterns typically develop near market bottoms, and that a similar setup forming near a major top can create a liquidity trap after a breakout.

Patel identified $95 as the key neckline resistance. In his view, a strong daily close above $95 could open a path toward $150, while a rejection below that level would raise the risk of a failed breakout.

He also flagged roughly $53 as strong support, warning that a failure there could lead to a deeper reset for HYPE.

RSI and MACD Show Mixed Momentum

Momentum indicators present a mixed picture. HYPE's relative strength index (RSI), a 0-100 momentum oscillator in which readings above 70 are conventionally viewed as overbought, sits at 77.97, above its moving average of 73.91, placing the token in overbought territory and raising the possibility of profit-taking or consolidation.

The MACD, a momentum gauge built from moving averages, tells a similar story: the line is near 2.679, below the 2.761 signal line, and the histogram reads -0.082, pointing to weakening momentum despite the recent price advance.

Patel said he was not calling for a short position, adding that he would watch the $95 level and the $50-$53 zone closely. The chart marks $100 — a round number commonly treated as a psychological level — as the next major level if buying pressure continues, while a rejection could send HYPE back toward nearby support. With the RSI in overbought territory and the MACD histogram negative, the near-term watch list comes down to daily closes around the $95 neckline, the $96-$100 resistance cluster above, and the $90, $85 and $78-$80 supports below.