Hyperliquid Price Prediction: HYPE Price Pauses After Rally as Treasury Unlocks New Yield Path

• HYPE’s higher-high structure and volatility expansion suggest buyers control momentum
• Derivatives leverage is rebuilding slowly, signaling participation without excessive risk
• On-chain options and treasury yield strategies add non-directional support to HYPE demand

Hyperliquid’s HYPE token has regained market attention after a strong rebound, while traders weigh technical momentum against shifting derivatives and treasury developments. Recent price action, on-chain data, and a new institutional strategy together frame a market that looks constructive but measured.

HYPE Price Structure Signals Strength

On the 4-hour chart, Hyperliquid continues to trade within a well-defined short-term uptrend. Price expanded sharply from the $20.50 base before entering consolidation near the 0.786 Fibonacci retracement. Consequently, this pause reflects strength rather than exhaustion.

Volatility indicators confirm the shift. Donchian and Keltner-style bands widened after the breakout, signaling expansion following compressed conditions. Besides that, the structure still shows higher highs and higher lows. Hence, buyers continue to control direction despite cooling momentum readings.

Resistance now clusters between $34.40 and $35.55, where price faces near-term supply. A decisive break above this area could unlock a move toward $38.40. However, support levels remain critical. 

The $33.70 to $33.90 zone acts as immediate defense. Additionally, deeper pullbacks could test $31.60, aligning with the 0.618 Fibonacci level.

Derivatives Data Shows Cautious Re-Engagement

Open interest trends add important context. Hyperliquid open interest peaked near $2.6 billion in September before entering a prolonged contraction. Significantly, leverage reset sharply in early October as traders reduced exposure.

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From November through December, open interest stabilized between $1.4 billion and $1.6 billion. This range suggested caution rather than aggressive positioning. Moreover, late January data shows a gradual rebuild toward $1.65 billion. This increase reflects renewed participation, although leverage remains below prior highs.

Spot flow data tells a similar story. Net outflows dominated much of the previous period, signaling distribution pressure. Large sell-side spikes appeared in September and October. However, outflows moderated into December, indicating seller exhaustion. Recently, modest inflows emerged, hinting at early accumulation.

Treasury Strategy Adds a Fundamental Angle

Beyond charts, institutional activity adds a new layer. Hyperion DeFi Inc. announced plans to deploy its HYPE holdings as collateral for on-chain options strategies. Consequently, the firm aims to earn premium and fee income without taking directional risk.

The strategy uses infrastructure from Rysk protocol, which supports structured options strategies executed entirely on-chain. Additionally, Hyperion plans to combine this revenue with staking returns. Over time, the firm expects to open these vaults to other institutional holders.

Technical Outlook for Hyperliquid (HYPE) Price

Key levels remain clearly defined as HYPE trades within a bullish consolidation phase. 

Upside resistance sits at $34.40–$35.55, which remains the immediate hurdle for continuation. A confirmed breakout above this zone could extend the move toward $38.40–$38.50, aligned with prior projections. 

On the downside, $33.70–$33.90 acts as first support, while the $31.60–$31.80 area marks the 0.618 Fibonacci demand zone. Structural support rests near $29.40–$29.50, with trend invalidation near $27.30. The technical picture suggests a pause after a strong impulse leg rather than exhaustion. 

Will Hyperliquid Go Up? 

The near-term bias stays bullish as long as price holds above $31.60. A clean break above $35.55 could reignite upside momentum. 

Failure to defend $33.70, however, risks a deeper retracement toward lower Fibonacci supports. For now, HYPE remains in a pivotal zone, with volatility expansion likely ahead.