- Whale wallets accumulated over $24 million worth of HYPE within hours, signaling strong market conviction.
- Technicals confirm a bullish structure, with $50 flipping into support and momentum indicators pointing upward.
- September price outlook favors a move toward $55–60, with $46 acting as a crucial safety net.
Whale wallets have turned their focus to Hyperliquid’s native token HYPE, with large-scale purchases suggesting growing confidence in its upward trend. Data shared by Lookonchain shows qianbaidu.eth purchasing 260,900 HYPE, worth nearly $13 million, through two wallets in just 16 hours.
Another address, 0xe0f0, entered the market with a long position of 136,906 HYPE, valued at $6.9 million, over the last six hours. The momentum was further fueled by address 0x328B, which acquired 43,415 HYPE, equal to $2.13 million, in the past 12 hours.
Meanwhile, 0x23fA staked 42,161 HYPE, worth $2 million, within seven hours. The clustered inflows highlight a coordinated wave of whale participation, reinforcing the bullish undertone surrounding the asset.
HYPE Technical Landscape Turns Favorable
HYPE is currently priced at $50.69, having registered a 7.37% gain in the last 24 hours. A seven-week high weekly close at $50.61 guarantees strength in the rally. A supply area around $49.89 has now turned into support, a technical reversal usually observed prior to prolonged upside moves.
Volatility indicators are also on the bulls’ side. Bollinger Band Width is 80.95, showing expansion that usually results in continuation after resistance penetrations.
Even though volumes are contained compared with the April–June rally, increased volatility is an indicator of rising trader activity.
Momentum indicators support this scenario. The RSI is 66.28, below overbought levels, and therefore suggests room on the upside. The MACD has come out green with a bullish cross, classically a harbinger of sustained momentum, persisting in the range of several weeks.
Also Read: Hyperliquid (HYPE) Price Eyes $55 as Whale Activity Signals Rally Ahead
September Price Outlook
Fibonacci levels describe a safety cushion for the investor. The one-day support is at $49.89, and there are stronger supports at $46.90 and $40.32. The larger demand area is from $29.61 to $24.83, in which the longer-term averages come together with important retracement levels.
On the resistance front, immediate resistance is at $55.68, followed by the psychological resistance at $60. A successful move through levels could take the trading range up towards $65.
Inter-market sentiment indicates purchasers are still holding ground above $40, and sellers could re-enter the market in the range of $55 and $60, booking profits.
September’s most probable course bends in favor of a move on up towards $55–60. The bull argument has a 60% likelihood, and a breakout above $60 gives a window through to $65.
A trading range in the range of $46–$55 is a 30% probability, and a 10% likelihood as well, points only towards a bearish reversal and a trip down towards $34–30.
Also Read: HYPE price analysis shows momentum building, eyeing $100 target
