- HYPE Sees $8M Whale Purchase of 166,820 Tokens at $47.14, One of the Largest in Two Weeks
- Price remains higher than the 9-EMA ($42.41) and within the upper Bollinger Band area, with RSI at 65.96 and MACD in bullish territory.
- Support exists at $42.41 and $40.28, and a break above $50 may retest the $56.86 annual high and extend to the $60 target.
Hyperliquid (HYPE) is on the way to its upward price trajectory and experiencing a surge in its value against the overall market. Its price over the last 24 hours is up 4.15%, and over the last week it is also up by 19.04%.
HYPE is currently trading at $48.65 with a 24-hour trading volume of $667.86 million, up by 18.41% over the last 24 hours. The coin has a market capitalization of $16.24 billion, which is also up by 4.18%.
The general market trend has turned bearish as Bitcoin has started its downward consolidation after touching its new ATH above $124,000, which may lead to a short-term correction. The entire crypto market is affected by this correction, but HYPE is still expecting a bullish momentum ahead.
Whale Accumulation Ignites HYPE Market Buzz
Moreover, a prominent crypto analyst highlighted that a crypto whale has once again made headlines in the Hyperliquid community, depositing $8 million in USDC before buying 166,820 tokens at an average of $47.14 each. The buying represents one of the largest one-day accumulations in the last two weeks, and speculation across the market has already started to gradually build up predictions of a rally or big-scale upcoming project reveal.
On-chain data reveals that this is not the first successful entry of this whale in HYPE. In previous trades, the same address made a gain of $7.85 million, making itself a reliable and profitable market player. The analysts are monitoring now to see if aggressive accumulation at this juncture represents insider confidence in the coin’s future or presages another multi-million-dollar gain.
Also read: Hyperliquid (HYPE) Gains 21% in a Week, Breakout to $100 in Sight
HYPE Price Action Points a Rally Toward $60
HYPE is still in bullish territory, and technical indicators confirm further increase. The weekly chart indicates that the price is above the 9-EMA at $42.41 and within the higher Bollinger Band zone of $33.41–$56.86. The RSI at 65.96 gets close to overbought, but the MACD reinforces strong momentum. Important Fibonacci levels to monitor include $40.28 (support) and $50 (resistance).
According to the price action standpoint, bulls aim at a $50 break, which would result in a retest of the $56.86 annual high and send prices to the $60 target. Staying above $42.41 will be necessary, and $40.28 will be the next major support if strength falters.
HYPE Derivatives Data Hints at Further Upside Grow
Derivative data shows that the volume is up 41.43% to $3.63 billion, but open interest down 0.14% to $2.02 billion, which signals weak profit-taking in spite of new inflows. This mixed signal shows healthy rotation without excessive leverage dependence.
The OI-weighted funding rate at 0.0086% shows a modest bullish bias. The longs are paying a small premium, but there’s not extreme funding stress; the market still has room to grow before facing any threat of a sharp squeeze.
Also Read: Hyperliquid’s Explosive $1.1 Billion Revenue Triggers $54 Price Target
