What's the HYPE about? Hyperliquid's 'Solana' moment eyes 240% gains

Key takeaways:

• HYPE is mirroring Solana’s 2021 breakout structure, targeting a 240% rally by July.
• Familiar crypto fractals suggest HYPE could spark similar momentum-driven hype.

Hyperliquid's native token, HYPE, is mirroring a strikingly similar price structure to Solana’s (SOL) early 2021 breakout—one that preceded a 300% rally.

HYPE chart fractal targets 240% rally by July

In January 2021, Solana broke out from a prolonged consolidation phase just as marketwide interest began accelerating.

The breakout, highlighted by a decisive flip above key Fibonacci retracement levels, triggered a vertical rally that saw SOL jump to the 4.618 Fib retracement line at around $19 from roughly $4.90 in under two months, marking a 291% surge.

SOL/USD daily price chart. Source: TradingViewFast forward to May 2025, HYPE’s daily chart is showing the same bullish structure following its 270% rebound from $10 lows in April, aligning with its 0.0 Fibonacci retracement line.

On May 23, HYPE broke above its 1.0 Fibonacci retracement level (~$35.88), echoing the early stages of SOL’s explosive run in 2021.

HYPE/USD daily price chart. Source: TradingViewMoreover, the relative strength index (RSI) for HYPE has entered deeply overbought territory (above 84), which, while suggesting caution in the short term, also underscores the strength of the current momentum, much like Solana’s RSI profile during its 2021 breakout.

If HYPE continues to follow this fractal, the 1.618 Fibonacci extension level near $51.68 appears to be the next logical target. Beyond that, the 4.618 level at around $128 could mark the peak of this potential rally, a 240% move from its recent breakout zone near $35.

Hyperliquid is like Solana and FTX combined — analyst

Popular analyst and commentator Ansem highlights that Hyperliquid’s vision is very similar to what Solana and FTX aimed to build during their early partnership: a high-performance, low-cost crypto trading experience.

He argues that, unlike FTX’s centralized architecture, Hyperliquid is fully onchain.

Source: X/AnsemNearly 97% of all trading revenue goes directly back to HYPE tokenholders, Ansem noted, adding that such fundamentals will assist the Hyperliquid token to reach “all-time highs soon.”

Psychologically, traders are often drawn to familiar and previously successful patterns.

In 2017, Ether (ETH) mirrored Bitcoin’s (BTC) 2013 arc almost identically, from the parabolic blow-off top to the retracement and range-bound recovery phase.

BTC/USD and ETH/USD fractal comparison chart. Source: TradingViewWhen traders recognize that HYPE could be repeating Solana’s 2021 trajectory visually and fundamentally, it may reinforce bullish conviction and draw in speculators hoping to catch the next “Solana” moment.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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