Hyperliquid technical analysis: Resistance test as buyers push recovery effort

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Hyperliquid jumps 7.08% to $68.06 today

Highlights

Hyperliquid's direct engagement with the SEC's Crypto Task Force signals a push for customized DeFi regulatory clarity, enhancing operational certainty.
A new revenue-sharing deal will direct 90% of USDC yield to Hyperliquid, likely increasing on-chain liquidity but reducing Circle and Coinbase margins.
HYPE/USD maintains a strong bullish trend with high volatility, trading in a projected $65.87–$69.58 range and support near $65.46.

Regulatory engagement and revenue shifts drive institutional repositioning

The most significant catalyst for Hyperliquid is its recent engagement with the U.S. SEC's Crypto Task Force, as both parties met alongside Trade[XYZ] to discuss regulatory strategies for decentralized perpetual derivatives and on-chain infrastructure, according to Fxstreet. This direct interaction aims to advance regulatory clarity specific to decentralized finance, with Hyperliquid also urging the SEC to establish new rules tailored for blockchain protocols, as reported by Grafa, enhancing the platform’s prospects for operational certainty and market participation. Additional developments include a revenue-sharing agreement that channels 90% of stablecoin yields to Hyperliquid from USDC activity—potentially bolstering on-chain liquidity at the expense of Circle and Coinbase margins, as noted by Crypto—and a $3.9 million net outflow from the Hyperliquid spot ETF on July 13, as reported by Bitcoinworld Co, reflecting ongoing institutional repositioning within the sector.

Momentum signals strength as overbought indicators warn of pullback risk

On the technical front, HYPE is trading above the MA-20 at $65.9, the MA-50 at $64.73, and remains well above the MA-200 at $42.8, with the Ichimoku Kijun at $65.46 providing the nearest support. Momentum readings are robust: both the Moving Average Convergence Divergence (MACD) and Average Directional Index (ADX) confirm ongoing upward strength, while the Relative Strength Index (RSI) stands at a bullish 65.27. However, the Stochastic RSI and Commodity Channel Index (CCI) are overbought, suggesting heightened risk for a short-term pullback. Bull/Bear Power remains in overbought territory, signaling buyer dominance, though the Awesome Oscillator is neutral and does not corroborate the trend.

Rangebound outlook as resistance and support levels shape near-term moves

For the next 2–3 trading days, HYPE is expected to fluctuate within a volatility band from $65.87 to $69.58. A sideways move inside this corridor is probable in the absence of breakout momentum. Should the price decisively clear resistance, further upside gains may develop. Conversely, a breach below the $65.46 support would introduce the possibility of a deeper short-term retracement.

Anton Kharitonov, analyst at Traders Union, sees Hyperliquid supported by regulatory engagement and strong technical momentum. He notes that institutional flows remain selective and that overbought signals increase the risk of a pullback. The analyst believes resistance at $69.58 is a key hurdle, with $65.46 as critical support. "I remain cautious — unless HYPE can sustain above $65.46, upside may be limited in the near term."

Earlier, analysts noted that JPMorgan had lowered its outlook on Circle and Coinbase due to shifting revenue dynamics and intensifying competition following the revised USDC-Hyperliquid partnership. The latest direct engagement between Hyperliquid and U.S. regulators, together with improved technical momentum, suggests that operational clarity could further catalyze participation, making sustained support at $65.46 a crucial level for traders monitoring near-term positioning.

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.