Can ICE partnership fuel Hyperliquid?

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Hyperliquid jumps 18.24% to $93.39 today

Highlights

Intercontinental Exchange and Trade.xyz will build a U.S. perpetual futures market using Hyperliquid’s HIP-3 technology as the core infrastructure.
Trade.xyz reports over $650 billion in cumulative perpetual futures trading volume, and Hyperliquid is conducting a buyback and burn of nearly 50 million tokens.
HYPE/USD has a strong bullish technical structure with persistent buying, and is expected to trade in the $88.33 to $98.45 range over the next 2 to 3 days.

Institutional partnership and buyback drive liquidity and sentiment shift

The primary driver behind HYPE’s recent gains is Intercontinental Exchange’s announcement of a partnership with Trade.xyz to develop a U.S. perpetual futures market, leveraging Hyperliquid’s HIP-3 technology as the core infrastructure, as reported by The Block. This collaboration signals a significant step toward institutional engagement, potentially unlocking new liquidity channels for Hyperliquid, contingent on regulatory approval. Trade.xyz’s report of over $650 billion in cumulative perpetual futures trading volume in just over a year, according to CoinDesk, further validates robust demand for products built on Hyperliquid’s stack, while Hyperliquid’s ongoing buyback and burn of nearly 50 million tokens strengthens scarcity and supports sentiment.

Bullish momentum persists despite oscillator divergence and overbought signals

HYPE/USD is trading above its MA-20 ($91.78) and MA-50 ($84.94) on the hourly chart, and remains comfortably above the daily MA-200 ($66.22). The nearest support sits at the Ichimoku Kijun level of $87.7. MACD continues to signal Strong Buy, and ADX shows sustained buying momentum, while RSI at 61.92 stays within the Buy zone. Oscillators are mixed, with both Stochastic RSI and CCI at Neutral, but persistent buyer dominance is highlighted by Bull/Bear Power showing overbought conditions. The Awesome Oscillator also confirms bullish momentum. Some divergence between oscillators and momentum indicators is present, but strong directional strength persists.

Consolidation favored as upside breakout risk outweighs downside

Over the next 2–3 trading days, HYPE/USD is expected to trade within a volatility band of $88.33 to $98.45. The baseline scenario envisions price consolidating inside this range. Should bullish pressure lead to a breakout above resistance, new highs may be reached. A dip below immediate support would introduce further downside risk, but such a move appears to be a low probability event given current technical and sentiment conditions.

Anton Kharitonov, expert at Traders Union, notes that HYPE’s rally is largely driven by news of the ICE and Trade.xyz partnership, supported by strong fundamentals like robust trading volume and ongoing token burns. He sees continued technical strength above key moving averages and positive sentiment, but remains cautious given the market’s reliance on regulatory approval and recent overbought signals. Base case remains range trading between $88.33 and $98.45. "Until we see a confirmed breakout or a clear invalidation below support, I prefer to stay neutral and monitor for additional catalysts."

Previously it was reported that Hyperliquid's token burn and new institutional partnerships positioned the asset in a broadly bullish technical alignment, though analysts cautioned about mixed momentum signals. The current article builds on this by highlighting further momentum from new institutional integration and sustained buyback activity, with the main focus now on whether HYPE can extend its breakout beyond the established $88.33–$98.45 trading range in the coming sessions.

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.