HYPE price prediction: Can 200-day SMA prevent a drop to $63.5?
Hyperliquid continues to benefit from elevated trading activity, but worsening global market sentiment is putting pressure on HYPE. The contrast between resilient platform fundamentals and a weaker external backdrop is becoming increasingly pronounced.
The $1.65 billion liquidation wave across crypto may be supporting Hyperliquid’s fee income through higher trading activity. According to DefiLlama, the platform generated around $2.93 million in fees and $2.19 million in revenue over the past 24 hours. Hyperliquid documentation also states that part of the fees is directed toward automated HYPE buybacks and burns through the Assistance Fund.
The macro backdrop, however, remains unfavorable. Brent crude has risen to $96.30, while the 10-year U.S. Treasury yield has climbed to 5.128%, adding pressure to risk assets including HYPE.
HYPE price faces $63.5 downside risk if 200-day SMA fails
HYPE failed to hold support at $73 and fell to $68.55, stopping just short of the previously identified $68.37 target.
The 200-day SMA near $69 will be the key support level over the next several days. A sustained move below it would sharply increase the risk of a decline toward $63.50. Given the current geopolitical and macroeconomic risks, that scenario cannot be ruled out.
A recovery above $73 followed by a sustained move higher would invalidate the bearish setup. In that case, HYPE could rebound toward $77.
Strong platform fundamentals contrast with weak crypto sentiment
Hyperliquid continues to benefit from strong trading activity and a HYPE buyback mechanism that links platform revenue directly to token demand. Even so, solid fundamentals cannot fully insulate the asset from a broad crypto-market selloff.
Over the medium term, stronger fee generation could help sustain investor interest, particularly if the macroeconomic backdrop begins to stabilize. For now, uncertainty around inflation, interest rates and geopolitics remains the main obstacle to a more durable recovery.
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