Hyperliquid HYPE: Whale Buy $3.02M as Price Tests $39.40 Support
Hyperliquid (HYPE) is trading near $41.31 after a 1.3% drop over the past 24 hours, with the market showing clear downside pressure. On-chain data highlights a whale purchase of 71,832 HYPE tokens (about $3.02M) near the $42 area, while sentiment metrics point to profit-taking: Nansen’s Top 100 addresses cut HYPE holdings by 17.57% in one day.
Derivatives confirm the cautious tone. CoinGlass shows a negative funding rate for Hyperliquid HYPE (-0.0065%), and liquidation clusters are concentrated around $40.47 (downside) and $42.67 (upside). Positioning implies more downside liquidation risk: roughly $5.10M in long-liquidation risk versus $7.68M in short-leveraged positions, which can amplify intraday swings.
Traders are watching a key technical level at $39.40, a daily support zone that has held since Apr 10, 2026. If Hyperliquid HYPE holds above $39.40, a rebound is possible. A breakdown below it would likely turn the near-term structure bearish and open a move toward the next support around $36. Momentum is also weakening, with ADX at 15.26, below the trend-strength threshold.
Overall: Hyperliquid HYPE has whale buy support, but funding and liquidation positioning tilt the short-term risk toward volatility and potential downside.
Neutral
Earlier coverage framed HYPE’s strength as volume-supported, while also warning of potential whale sell-side pressure that could create near-term pullbacks. The later update adds that HYPE is now down again and that derivatives positioning is bearish: negative funding and downside liquidation clusters near $40.47 raise the odds of volatility and stop-driven downside moves. However, the new whale purchase (~$3.02M) near $42 and the nearby defended daily support at $39.40 provide a counterweight, limiting immediate downside conviction. Net effect is a mixed signal: short-term risk is tilted toward swings lower if $39.40 breaks, but whale bids and a key support keep the longer move direction less certain.