Hyperliquid (HYPE) continues to show bullish momentum as buyers defend its rising structure and optimism builds around Hyperliquid’s potential U.S. expansion. The partnership involving Kraken parent Payward could provide compliant market access, strengthening the growth prospects and potentially supporting further upside if regulatory hurdles are cleared.
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At the time of writing, HYPE is trading at $83.25 with a 24-hour trading volume of $1.3 billion and a market capitalization of $20.95 billion. Following the 2.43% gain over the last 24 hours, the HYPE price structure and network growth point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: Hyperliquid Strategies’ HYPE Holdings Jump to 29.3M Tokens
HYPE Breakout Signals Potential Move to $100
According to the crypto analyst Wealthmanager, HYPE has surged nearly 50%, climbing from around $57 to $84 as optimism grows over Hyperliquid’s reported progress toward entering the U.S. market.
The potential expansion has strengthened investor sentiment, adding a fundamental catalyst to HYPE’s recent rally and increasing attention around the decentralized derivatives platform’s growth prospects.
Source: Wealthmanager’s X Post
From a technical perspective, HYPE seems to be forming in a rising channel after its aggressive breakout, meaning that buyers are likely to continue supporting its bullish formation.
The resistance stands at $87, where a clear breakout should help to generate more strength towards the psychological mark of $100. However, rejection could trigger short-term consolidation before another attempt higher.
Hyperliquid Targets U.S. Market With Kraken Deal
The data from Hyperliquid Daily further highlighted that Kraken’s parent company, Payward, is said to be negotiating with Hyperliquid about the introduction of some of the perpetual futures to US-based investors.
This can take advantage of Bitnomial, which is a US-regulated digital assets exchange and clearing house, offering compliant trading access while retaining access to the rapidly evolving derivatives ecosystem at the network.
Source: Hyperliquid Daily’s X Post
The platform currently handles significant volumes for global perpetuals but is not available to users from the United States due to its decentralized nature.
Payward has been said to have submitted a proposal to the CFTC, which becomes an important barrier for the deal. Approval will help Hyperliquid enter the U.S. market for the first time and increase rivalry between platforms.
Following the bullish price predictions and network expansion, the HYPE price is moving in an upward direction. However, the general trend in the crypto market is still cautious, and a breakout could turn into a fakeout if conditions remain bearish.
What Comes Next?
HYPE technical activity will concentrate on its $87 resistance zone. A breakout may enhance positive momentum and bring HYPE closer to $100, while rejection may result in consolidation.
At the same time, development towards entry into the American market and approval by regulators may turn out to be important catalysts for the network.
Also Read: HYPE Price Prediction: HYPE Could Drop Toward $60 if $87 Resistance Holds
