Hyperliquid HYPE targets $60 as Policy Center urges SEC on pre-IPO perpetual markets

Hyperliquid’s token HYPE is extending its recovery and is pushing toward a $60 breakout. After a second consecutive day of gains, HYPE trades around $58.7, holding above key moving averages (50/100/200-day EMAs). Momentum indicators are improving: MACD is positive and RSI is near 56, suggesting buyers remain in control without clear “overbought” conditions. At the same time, the Hyperliquid Policy Center and trade[XYZ] submitted recommendations to the US SEC in response to a request to modernize the IPO process. They argue the SEC should create rules that let US investors access pre-IPO perpetual markets. These instruments are designed to provide continuously updated price exposure to a company’s expected valuation before its public listing, without granting equity, shares, voting rights, or direct claims against the issuing company. The filing points to prior examples of trade[XYZ] pre-IPO perpetual products that tracked listing expectations on Hyperliquid, and cites SpaceX’s market as an example of price discovery that was not accessible to US retail due to lack of a regulated pathway. Supporters see potential for broader price discovery and market access, while critics highlight risks common to leveraged derivatives, including leverage, uncertain valuation, limited disclosure, and possible price manipulation before public-market data arrives. For traders, the key level is $60: technicals favor buyers as long as HYPE holds above the 50-day EMA area (~$58.3). A sustained daily close above the nearby resistance trendline and $60 could confirm a breakout; failure could trigger profit-taking back toward EMA support zones.