Price Moves & Technical Outlook

This week, HYPE has been hovering near $36 after facing resistance at around $45.8. The token has been supported by a strong structural level at $30.6—a price floor that has consistently held up during recent dip phases. Close price action between $36 and $38 is being watched closely. If it pushes above $38.2 with momentum, renewed bullish strength toward $45 or higher is likely. On the other hand, a break below $30.6 on heavy selling could trigger deeper declines toward $25.9 or even $17.4.

📈 Futures Market Surge for Hype

Notably, HYPE has surged to become the fifth-largest token by futures open interest, surpassing Dogecoin. Its futures market now holds approximately $2 billion in open positions, underlining growing trader engagement. With perpetuals trading volumes reaching around $94 billion, HYPE is firmly establishing itself in on-chain perpetual futures — a key factor supporting continued price gains.

🌐 Ecosystem Strength & Volume

The Hyperliquid platform, which HYPE powers, retains dominance in on-chain perpetual futures trading. The network processes enormous volume—exceeding $12 billion daily on some days—and accounts for roughly 60% of total on-chain trading. These figures show strong user activity and robust fee generation, with a substantial portion flowing back into token buybacks. This economic loop supports both liquidity and token value.

🔄 Recent Corrections & Recovery Signs

After peaking near $45, HYPE corrected about 20% but now shows signs of stabilization. On shorter timeframes, its price action has pushed above descending resistance lines, while indicators such as BBP (Bull-Bear Power) and RSI are tilting positive. Nonetheless, daily candles dipped below the 20-day EMA, although the 50-day EMA continues to offer support. The structural setup remains mixed but leans toward a bull-leaning pivot.

🧭 Outlook: What Could Come Next

Near-term, a successful defense of support around $36–$30, combined with stabilization above key EMAs, could trigger a rally back to $45+. A reclaim above $38 might mark the next leg upward.
Mid-term, sustained dominance in perpetuals and continued buyback activity could boost confidence, although broader crypto sentiment remains important.
Downside risk includes a deeper correction if selling pressure breaks below $31, potentially dragging prices lower to the $25–$30 zone.

✅ Final Summary for Hype

HYPE is showing solid momentum backed by institutional-level futures activity and strong on-chain usage. While the pullback from its peak has slightly cooled the rally, recent technical signs suggest buyers are regrouping. Watching the $30.6–$36 support range is critical—holding this could lead to another upward push, while a breakdown might signal a deeper lean toward mid-range support levels.