Hyperliquid (HYPE) holds $28 support as whales and institutions accumulate, breakout eyed at $37–$40
Hyperliquid (HYPE) has shown renewed buying and improving technicals after defending a $28 support zone. Spot and derivatives activity surged: recent reports show spot volume between $323M–$480M (24h), derivatives volume up to $1.63B, and open interest rising to $1.39B–$1.57B, indicating fresh positioning by traders. On-chain moves include Arthur Hayes adding ~20,274 HYPE (~$603K) and Nasdaq-associated Hyperliquid Strategies building a large treasury—buying 5M HYPE for $129.5M (avg $25.90) in one report and holding ~12.6M–17.6M HYPE with ~$125M–$300M cash across summaries—further tightening circulating supply. Other spot accumulation occurred in the $22–$28 range and significant staking by large holders has reduced liquid supply. Technical indicators improved: price reclaimed the 50-day MA (~$30.4), RSI around mid-40s–50s, MACD recently crossed bullish, and Bollinger Bands show a $23–$24 lower band and ~$37 upper band. Key levels: support $28 (invalidated below ~$27 daily close), immediate resistance $32–$35, decisive breakout would target $37–$40 (and psychological $48–$50 in earlier analysis). Risks: rising open interest can amplify liquidations if price fails to follow through; a daily close below $27 would negate the bullish setup. Trader takeaways: watch $32–$35 for confirmation of a breakout, monitor open interest and derivatives flows for aggressive positioning and liquidation risk, and consider institutional/treasury accumulation and whale buys as bullish fundamental catalysts that could reduce supply and increase demand for HYPE.
Bullish
The combined reports point to a bullish outlook for HYPE. Key drivers: (1) significant on-chain accumulation by whales and an institutional Treasury (Hyperliquid Strategies) which materially reduces available float; (2) rising spot and derivatives volumes with increasing open interest, indicating fresh trader positioning; and (3) improving technical signals—price reclaiming the 50-day MA, MACD bullish cross and RSI in neutral-to-positive range. Short-term impact: heightened open interest raises volatility and liquidation risk if momentum stalls, so traders should watch $32–$35 for breakout confirmation and a daily close below $27 to invalidate the bullish case. Medium-to-long-term impact: large institutional treasury holdings and continual buy-ins tighten supply and can provide sustained demand, supporting higher price targets (near-term $37–$40, extended targets noted earlier around $48–$50) if market-wide conditions remain favorable. Overall, fundamentals (treasury accumulation, whale buys) plus technicals favor a bullish bias, but elevated derivatives activity adds execution risk in the short term.