Hyperliquid Price Forecast: HYPE is Targeting $50 By April

Hyperliquid’s HYPE token may be setting up for a bullish cup-and-handle breakout, with the chart pointing to a possible rally toward $50 by April.

On the daily chart, HYPE appears to have completed a rounded bottom between November and late January, forming the “cup” portion of the pattern after a prolonged decline from its peak near $59.

The recovery then stalled around the $34–$35 zone, where the price moved sideways to slightly lower levels, carving out the “handle.”

A confirmed breakout above the neckline area around $34–$35 could open the door for a move toward the $50 region, which also aligns closely with the 0.786 Fibonacci retracement level on the chart.

Until then, the setup remains breakout-dependent.

Hayes Says Hyperliquid’s Growth Could Send HYPE to $150

Arthur Hayes’s much bigger bull case goes far beyond the chart’s initial $50 breakout target.

In his new essay, Hayes said HYPE could reach $150 by August 2026, or roughly 5x from the low-$30 area where it was trading when he published the note.

He argues Hyperliquid can keep pulling perpetual volume away from centralized exchanges and expand into new macro-linked markets, lifting its 30-day annualized revenue run rate to about $1.4 billion from roughly $843 million in March.

Hayes also highlighted that around 97% of Hyperliquid’s revenue is used to buy back HYPE from the open market, creating a strong value-accrual loop if volumes keep rising.

In that framework, the chart’s cup-and-handle breakout toward $50 would only be the first leg, while $150 represents a more aggressive upside scenario tied to sustained market-share gains and much stronger protocol earnings.

Oil Trading Boom Supports Hayes’s $150 HYPE Thesis

Hayes’s bullish HYPE call gained another tailwind as the US–Iran war turned oil into one of Hyperliquid’s busiest markets.

On March 10, the platform’s crude-linked perpetual, CL-USDC, handled about $1.29 billion in 24-hour volume, overtaking ETH-USDC at roughly $1.24 billion.

The shift suggests Hyperliquid is becoming more than a crypto-native venue, with traders increasingly using it to speculate on macro assets such as oil alongside digital tokens.

That trend fits directly into Hayes’s HIP-3 thesis. HIP-3 allows users to launch perpetual markets permissionlessly by staking HYPE, and Hayes argued these newer listings, including oil, gold, ssilver and major US equity index products, are already gaining traction.

In his view, HIP-3 volumes now account for nearly 10% of Hyperliquid’s revenue and could drive a 160% increase in that segment over the next six months if macro trading on the exchange keeps expanding.