HYPE Price Analysis: $38-$40 Liquidity Stack Points to $26 Sweep Before Rally

2026-02-21 13:09:16

Hyperliquid’s HYPE token has caught traders’ attention as liquidity maps reveal a potential two-way setup that could shake out positions before the next directional move. With dense liquidation clusters appearing both above and below current levels, the market looks primed for volatility as price hunts stops in a familiar derivatives pattern.

HYPE Liquidity Clusters Form Above $38 and Near $26

HYPE is back in focus after a liquidity heatmap highlighted two clear clusters shaping near-term expectations. Liquidity is stacking up just over recent HYPE highs in the $38-$40 zone, while the scenario laid out expects the market to sweep $26 longs first before flipping higher to target liquidity above. The setup frames HYPE as range-bound around the low-$30 area on the chart, with liquidity magnets sitting both above and below.

The attached Coinglass-style heatmap shows brighter bands concentrated near the upper-$30s and around the $40 handle, indicating heavier liquidation interest above the recent swing highs. A second notable band appears closer to $26, aligning with the “sweep the $26 longs” idea. Price action in the middle of the range looks choppy and compressed, suggesting the market has been rotating rather than trending cleanly.

Market Structure Points to Two-Step Move

The thesis implies a two-step move: first, a push down to capture resting long liquidity near $26, then a reversal that forces shorts to cover as price climbs back toward the $38-$40 zone. That would match the common pattern in leveraged markets where price is pulled toward dense liquidation areas, then snaps back once stops and forced closures have been triggered. For readers tracking HYPE’s broader technical backdrop, related coverage includes HYPE consolidates near $30.

This matters because the heatmap highlights where volatility can accelerate, especially when liquidity is concentrated at clear round numbers like $26 and $40. If HYPE drifts into those bands, forced liquidations can amplify the move in either direction, shaping short-term sentiment and risk conditions across the broader crypto derivatives market.

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