Hyperliquid price prediction: Capped by resistance, could HYPE rally further after the 24.70% jump?

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Hyperliquid jumps 24.70% to $31.51 today

Highlights

HYPE is trading at $31.51, significantly above the MA-20 ($24.17) and MA-50 ($25.34), but remains capped below the MA-200 ($38.51).
Momentum signals are mixed: ADX gives a moderate buy, MACD signals a strong sell, and oscillators highlight overbought conditions with RSI at 61.69.
Short-term price range is expected at $29.80–$33.20 over the next 5 days, with downside risk prevailing and key support at $24.73.

Record trading volume and HIP-3 adoption fuel HYPE demand

Hyperliquid's native token gained momentum following a sharp increase in commodities trading volumes, especially in silver and gold perpetual contracts, on the Hyperliquid decentralized derivatives exchange. The platform surpassed $1 billion in daily silver trading volume, setting a new record for open interest on its permissionless HIP-3 framework at $793 million. The HIP-3 protocol, which enables developers to launch perpetual contract markets by staking HYPE, has driven rapid adoption and heightened token demand. Hyperliquid now controls more than 70% of decentralized perpetuals liquidity, with revenues from trading fees supporting continued HYPE buybacks and burns.

Divergent momentum signals as aggressive buying meets overbought risk

Momentum signals are mixed: the ADX on the daily chart indicates moderate trend strength with a buy signal, while the MACD shows a strong sell. Oscillators highlight overbought conditions; RSI sits at 61.69, with both the Stochastic RSI and CCI at extreme levels. Bull/Bear Power is strongly positive, suggesting buyers are dominating, but the Awesome Oscillator remains neutral. The price surged aggressively at the open, causing a significant gap, and currently trades near today's high of $31.64. Although intraday bullishness is evident, not all broader momentum indicators confirm the move, so traders should be cautious.

Sideways channel expected as breakout and correction risks rise

For the next five trading days, HYPE is expected to trade within a volatility band between $29.80 and $33.20, reflecting recent strong movement. There is a low probability (less than 20%) of the price rising further, and the risk of a correction is heightened based on prevailing weekly signals. The base case calls for the token to remain in a sideways channel between near-term support and resistance. A breakout above $33.20 could trigger new highs if intraday momentum continues, while a drop below $29.80 and toward the Ichimoku Kijun at $24.73 would suggest a deeper pullback as buyers lose control.

Viktoras Karapetjanc, analyst at Traders Union, sees strong sentiment and demand for Hyperliquid after record trading of silver and gold perpetuals on the platform. He believes fundamental adoption trends and buyback-driven tokenomics support further upside, even as short-term technicals flash caution. Some indicators suggest momentum could cool, yet buyers are firmly in control for now. "Momentum is on the side of bulls as long as HYPE stays above $29.80, and any sustained move beyond $33.20 could open the path to new highs."

Previously it was reported that Hyperliquid (HYPE) is trading above its short-term moving average but remains below key medium and long-term averages, indicating limited bullish momentum amid broader downward pressure. Technical indicators signal overbought intraday conditions and elevated buyer activity, yet underlying MACD and ADX weakness combined with resistance at the MA-50 suggest that upside is likely capped while support is seen near the Ichimoku Kijun.

Source of Data: HYPE Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.