HYPE has entered the breakout stage of its prevailing bull pennant setup with an upside target near $105, with strong fundamentals backing the bullish case.

HYPE hit a record near $67 after the CFTC cleared the first US perpetual futures contract and Grayscale called Hyperliquid a breakout success.

Hyperliquid's HYPE token staged a strong breakout on Saturday, continuing a trend that started in January when it bottomed at $20. It surged to a record high of $67, and a…