Hyperliquid's HYPE token has entered a price discovery phase, with crypto analyst Ali Martinez identifying $97 and $163 as the next major price targets. The token recently broke above a key resistance level at $58.61, which now serves as critical support. HYPE is currently trading near $73, having invalidated previous sell signals, which strengthens the bullish outlook. The breakout above $58.61 marks a significant shift in HYPE's market structure, as it had previously limited upward movement. With the token setting new all-time highs, traders are focusing on projected resistance levels due to the lack of historical data. Martinez's analysis suggests that a move to $97.73 would represent a gain of over 30% from current levels, with $163.77 as a longer-term target if bullish momentum continues. Support levels to watch include $58.61, $35.11, and $20.97.