- HYPE whale accumulation is rising, with over $37M in USDC inflows as large investors steadily build positions.
- The token is hovering near a key accumulation zone, though trend reversal confirmation is still pending.
- The token is still in a corrective phase, but reclaiming structure would put the $50 level back in focus.
Large investors are steadily buying HYPE, with large USDC balances streaming into Hyperliquid in a reasonably short period of time, according to the Lookonchain data. This whale buying action indicates increased market confidence in HYPE, as an accumulation strategy appears to be in place.
One of the significant wallets that put USDC into the pool is 0x5Ae4. It deposited $20 million USDC and used the limit buy order at $15. Another significant development is that 0xE867 put $10 million USDC in the pool and now possesses 926,488 tokens worth around $22.4 million.
Source: Lookonchain
A further whale, 0x23Af, entered the market, showing conviction by spending $7.1 million USDC to buy 277,420 tokens at an average price of $25.6. The continuous accumulation over different price ranges gives a clear indication that the token is still on the radar of all traders and analysts.
Also read:Hyperliquid Price Alert: Can It Break $31 or Drop to $28?
HYPE Eyes a Potential Breakout With $50 in sight
Additionally, the crypto analyst, Hyper_Up, pointed out that the token is still experiencing strong selling pressure as the overall market structure is still exhibiting downwards movement. At the moment, the price is trading at about $23.55, which is situated in the AF accumulation zone, which is prone to short-term reactions.
A break below $23 could potentially open the token up to further downside action, with aggressively low prices such as $16 coming into view. Prior to the establishment of a long-term bottom, the market will have to provide confirmation through weekly liquidity, such as the establishment of a weekly fractal, before the validity of the subsequent low can even be considered.
Source: Hyper_Up
The whole correction is still in progress relative to the swing high of $50.15 and market sentiments. Once the confirmation of a low is achieved in the weekly charts, a new range formation might begin with its pivot aligning in the $33-$34 region as a correction target. Until then, the buying options are only tentative and do not form a concrete plan for traders and investors.
Also Read: Hyperliquid Moves Toward HYPE Token Burn as Validators Prepare to Vote
