Hyperliquid price rallies back towards $50 as Hyperr NFTs debut

Hyperliquid price gained 5% as Hypurr NFTs launched, with rising trading activity and key resistance at $50 now in focus.

Hyperliquid (HYPE) is trading at $47.23 at press time, up 5% in the past 24 hours. The move comes after a week of mixed trading, with prices dipping as low as $43 before recovering toward the $50 mark. Over the past 30 days, HYPE is still up 7%, though it remains 20% below its all-time high of $59.30, set on Sept. 18.

Daily trading volume has risen 11% to $522 million, showing more activity among traders. According to CoinGlass data, Hyperliquid (HYPE) futures volume climbed 13.85% to $1.8 billion, while open interest edged up only 0.61% to $2.28 billion. 

This pattern means more contracts are changing hands, but traders are not committing heavily to long-term positions. In practice, it reflects short-term trading interest rather than aggressive directional bets.

Hypurr NFTs spark new ecosystem activity

On Sept. 28, the Hyperliquid Foundation launched Hypurr NFTs, a collection of 4,600 cat-themed digital collectibles deployed directly on the HyperEVM. Most of these NFTs, 4,313 in total, were distributed to early users from the Genesis Event in November 2024. The rest went to the Foundation, Hyperliquid Labs, NFT artists, and other contributors.

Unlike standard NFT drops, Hypurr was designed as a memento for early supporters and is tightly linked to Hyperliquid’s infrastructure. Built on HyperEVM, the NFTs connect to the same liquidity that powers the chain’s trading layer. This design makes them more than art. Developers can build apps around them using HyperCore liquidity and HyperBFT consensus.

Market reception has been strong. The collection surfaced on OpenSea with floor prices of about 1,458 HYPE (roughly $68,700). Shortly after launch, one NFT even sold for over $467,000, igniting community discussion. Notably, security researcher ZachXBT reported a theft of eight NFTs, worth about $400,000, reminding holders of the importance of wallet security.

This blend of technological innovation, high-value transactions, and culture has brought Hyperliquid and its ecosystem new attention.

Hyperliquid price technical analysis

According to the charts, HYPE is trading between $44 and $47, with $44 serving as a solid support level. Since the recent pullback, upward movements have been capped by resistance at $50.

With a relative strength index of 46, neutral momentum is suggested. The MACD is still negative, suggesting some bearish pressure. Bollinger Bands are tightening, often a sign that a sharp move may be coming.

In the short term, moving averages are bearish as the 10-, 20-, and 50-day EMAs indicate selling pressure. The 100- and 200-day averages, however, continue to be supportive, indicating that the overall trend is still in place.

If HYPE clears $50 with strong volume, it could retest $59, the September high. But if it loses $44, the price may slide back towards the $30 region. For now, NFT-driven demand is giving bulls a case, while technical levels mark the next decisive tests.