Crypto Analyst Eyes $50 Target for $HYPE Amid Steady Climb

Crypto trader and analyst Altcoin Sherpa has set his sights on a triple-digit gain for a utility token as he notes its "best levels yet" amid a steady climb.

In a recent tweet, Sherpa revealed that he went "small and late" with a perpetual position, adding a token he’s been tracking for some time.

While not disclosing the exact token at the outset, he later confirmed it to be $HYPE, known for its utility and community engagement.

Despite uncertainty over how long he will remain in the position, Sherpa noted that $HYPE is "one of the best utility coins and projects out there."

"Wouldn't be surprised to see this thing fly to $50 if BTC and market conditions stay healthy," he added.

The chart shows $HYPE breaking out of a multi-week resistance zone near the $21 level, with increasing volume and consistent higher lows.

The breakout area is highlighted by a horizontal resistance line, which the price has now decisively reclaimed after testing it multiple times during the consolidation phase.

This suggests a potential shift in trend from a period of consolidation to one of accumulation, setting the stage for further gains.

As the coin breaks out of the resistance zone and continues its bullish momentum, Sherpa’s ambitious price target of $50—more than 2x from current levels—could come into sharper focus.

However, this outlook hinges on favorable trading conditions across the crypto market, particularly Bitcoin’s stability, which has been a key driver of broader altcoin trends.

The post has generated significant engagement with over 7,000 views, reflecting the growing retail interest in lower-cap altcoins amid the broader crypto market’s bullish undertone.