Hyperliquid (HYPE) Price Analysis: Strong Support at $28–$32 Signals $64 Target

• HYPE bounced at strong support between $28 and $32.
• Buyers are stepping cautiously, signaling that accumulation could begin soon.
• Momentum indicators show early recovery, but the bullish trend remains uncertain.
• Recent HYPE treasury transfers and staking increase liquidity and network participation.

Hyperliquid (HYPE) recently found strong support between $28 and $32, a level that has historically prevented prices from falling further. The recent bounce shows buyers stepping in, hinting at accumulation. Staying above this zone is important, as it sets the stage for a potential upward move toward several key targets in the coming weeks.

Looking at the candlesticks, multiple long lower wicks indicate that lower prices are being rejected. This pattern often signals a potential trend reversal. Daily candles suggest momentum is shifting from bearish to bullish, but the move isn’t confirmed yet. Traders should watch key resistance points at $40, $48, $52, and $56 as prices attempt to rise.

The projected path suggests HYPE could reach previous highs near $64. If buying pressure continues, extended targets around $68, $72, and $75 are possible. Prices may pause near each resistance before moving higher, which is normal in strong trends. Overall, the market appears cautiously optimistic, and upcoming candle volumes will help confirm any upward move.

Also Read: Hyperliquid Set for Bullish Move Toward $40 and $48 Following Support

Momentum Indicators Signal Early Recovery

The RSI sits at 46.5, rising from earlier lows but still below the 50 midpoint, indicating neutral-to-weak momentum. Its moving average at 54.39 remains higher, showing the RSI has not yet regained strength. This suggests early signs of recovery, but buyers have not taken full control, and momentum remains uncertain.

The MACD line remains below the signal line, indicating ongoing bearish momentum, but it can be observed that the bearish force, as represented by the histogram, is diminishing. This makes it indicative of an impending trend reversal. But until the MACD signal, the trend remains bearish.

Hyperliquid Treasury Maintains Full Transparency Standards

In the process, Hyperliquid Strategies, the HYPE treasury entity, transferred 12 million HYPE tokens to the entity called Hypercore, which had an equivalent value of $411 million. This represented 1.2% of the total HYPE supply as well as 3.54% of the circulating supply. This process involved 32 wallets and reflected the entire transparency of the HYPE treasury.

Additionally, the company has started staking, transferring 425,000 HYPE, worth roughly $14.5 million, into three wallets. This step indicates that the firm actively participates in the Hypercore network. The strategy launched by the firm to connect tokens from the HyperEVM and distribute them to the staking process enhances the liquidity of the ecosystem.

Also Read: Hyperliquid Strengthens Onchain Trading Infrastructure With HIP-3 Rollouts