HYPE price is holding a key support area as Hyperliquid continues buying back and burning tokens. Onchain Lens reported that the protocol burned 10.40K HYPE worth about $956,800 over the past 24 hours at a VWAP of $91.97. The latest transaction takes cumulative burns to 48.96 million HYPE, while 30-day protocol revenue reached $58.27 million.
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Hyperliquid Reduces HYPE Supply
The latest burn removes HYPE from circulation, adding to Hyperliquid’s ongoing supply reduction. The 48.96 million HYPE burned so far represents about 4.90% of the maximum supply. Hyperliquid’s $58.27 million in revenue over the past 30 days also provides the economic activity supporting its buyback mechanism.
Source: Onchain Lens
The burn reduces available supply but does not guarantee a higher HYPE price. Market direction still depends on demand, liquidity and broader market conditions. Meanwhile, the $91.97 VWAP provides a reference point as HYPE holds its current support area. A sustained hold could preserve the existing structure, while a breakdown would bring lower technical levels into focus.
What does the HYPE price structure show?
Analyst Giannis Andreou identifies the 89–90 area as an important support zone for HYPE price. The token recently pulled back into this region after the area previously acted as resistance. According to the analysis, buyers are currently defending the zone, creating the possibility of a resistance-to-support flip.
This type of technical transition can become important when a token breaks above an earlier resistance level and later retests it from above. If buyers continue defending the 89–90 area, the existing bullish structure could remain intact.
Source: Analyst Giannis Andreou X post
The next technical objective highlighted by the analysis is a move toward the upper trendline, followed by a potential entry into price discovery if HYPE clears the relevant highs.
The immediate condition remains support. A sustained loss of the 89–90 area would weaken the current setup and require traders to reassess the structure rather than assuming continuation.
What happens next?
HYPE now has two key areas to monitor: the protocol’s continued burn activity and the token’s ability to defend its technical support.
Hyperliquid has already removed 48.96 million HYPE from its maximum supply, while the latest 10.40K-token burn adds another reduction to the total. The $58.27 million in 30-day revenue also shows that the burn activity is occurring alongside substantial protocol-level revenue.
On the chart, the 89–90 region remains the immediate level to watch. Holding this area would keep the resistance-to-support flip in focus and leave the upper trendline as the next major technical reference.
For HYPE price, the combination of ongoing burns, strong protocol revenue and defended support provides several factors to monitor. The next decisive move will depend on whether buyers can maintain the current support zone while Hyperliquid continues its token-reduction activity.
Also Read: Binance HYPE Listing Signals Growing Interest in Hyperliquid’s Ecosystem
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
