Hyperliquid’s HYPE price remains in a bullish trend, with analysts expecting a breakout if buying momentum continues, while a loss of support could trigger a pullback. Its deflationary model, fueled by buybacks and token burns, continues to reduce supply and strengthen long-term value.
At the time of writing, HYPE is trading at $67.53 with a 24-hour trading volume of $268.62 million and a market capitalization of $17.08 billion. Despite the signs of stability over the last 24 hours, the HYPE price structure and buyback program point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: HYPE Price Eyes Major Breakout as Symmetrical Triangle Tightens
HYPE Price Eyes $80 as Bullish Breakout Nears
According to the crypto analyst Umair Orakzai, the HYPE price chart remains technically bullish as its price consolidates within an ascending triangle, a pattern often associated with trend continuation.
Analysts say holding above the $62 support while securing a close above $68.60 could confirm a breakout, potentially accelerating momentum toward the $80 region as buyers regain confidence in the ongoing uptrend.
Source: Umair Orakzai’s X Post
Despite the fact that the HYPE price is within an uptrend that has been ongoing for more than five months, the asset is at risk on the downside if it falls below the $62 support level. Falling below the support level will lead to a drop to $57, coinciding with the VAL in the existing range.
HYPE Gains Strength With Deflationary Tokenomics
The data from Hyperliquid Daily further highlighted that the native token of Hyperliquid, known as HYPE, is unique among cryptocurrencies in having an extremely deflationary model.
The live statistics of HYPE, on hl.eco, indicate that the annual growth rate of its total supply is merely 0.14%, which is much lower than that of Ethereum (ETH – 0.83%) and Solana (SOL – 3.76%).
Source: Hyperliquid Daily’s X Post
The protocol sets aside almost 97% of the revenue from trades to purchase and burn HYPE. To date, close to 45 million HYPE has been destroyed.
This creates what is called a flywheel effect: a high volume of trades creates more revenue to fund larger buys and burns and reduce supply, and long-term value is supported.
Despite the bullish price predictions and strong buybacks and token burns, the HYPE price is still moving in a neutral position. However, the general trend in the crypto market has turned positive as the BTC is moving upward, and the next few sessions will be crucial to determine the direction of the HYPE.
What’s Next for Hyperliquid and HYPE?
The future of the HYPE price now depends on defending the floor at $62 and breaking through $68.60. This can propel the price to $80, but falling below $62 may take it to $57. On the other hand, Hyperliquid continues making its future bright through its buybacks and token burns.
Also Read: HYPE Price Eyes $172 Following Bullish Breakout and Bitwise ETF Listing
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
