Hyperliquid HYPE is trading near a decisive range, with looming token unlocks and key resistance at $52 set to determine whether the bullish channel structure holds.
The market has reached a key turning point for Hyperliquid, with participants weighing whether the upcoming token unlocks will slow momentum or simply be absorbed by deep liquidity. While supply pressure is looming, the token’s structured channel pattern and resilient demand zones keep buyers on edge for the next decisive move.
Token Unlocks Add Supply Pressure
HYPE faces $500M in monthly token unlocks starting in November, while buybacks are expected to cover only a fraction of that supply. Arthur Hayes believes this imbalance could tilt the short-term narrative towards caution, as excess tokens entering circulation may outpace demand.
Hyperliquid faces $500M monthly unlocks starting in November. Source: Coin Bureau via X
Still, heavy unlock schedules don’t always break markets. If liquidity remains deep and trading activity expands, the sell-side pressure could be absorbed without derailing the broader uptrend. Much will depend on whether volume inflows can keep pace with new issuance.
Competition Challenges Emerging for Hyperliquid
Crypto analyst Dai highlights that one of the biggest challenges comes from Aster, which recently posted more than $90B in 24h perpetual volume compared to Hyperliquid’s $10B. The gap underscores how quickly participants rotate towards dominant players when activity spikes.
Hyperliquid records $270B in 30-day trading volume, holding its ground despite Aster’s $90B daily dominance. Source: Dai via X
Even so, Hyperliquid’s $270B in 30-day trading volume shows it remains relevant. If Aster cools off, capital could rotate back towards Hyperliquid, helping it maintain a foothold as a strong secondary venue.
Channel Structure Points to Recovery
Price action continues to track within an ascending channel, with rebounds forming along the mid-range trendline. Carrix mapped Hyperliquid’s price action inside a parallel channel, with recent pullbacks respecting mid-range supports. The chart implies that if bulls hold these levels, the token could work its way back towards the upper channel boundary around $55. Such a structure keeps the bullish outlook alive despite heavy supply concerns.
HYPE continues to respect its rising channel, with $55 emerging as the next key upside target if support holds. Source: Carrix via X
This setup also shows how HYPE has repeatedly rebounded from the lower channel trendline, giving confidence that trend-following buyers remain active. As long as price avoids deep closes under support, a structured grind higher is still in play.
Hyperliquid Testing Key Resistance Ahead
Hyperliquid may revisit the $51 to $52 resistance band before this leg of the rally matures. Price has already been rejected near this area in previous attempts, making it a decisive hurdle to overcome. A clean breakout could reset bullish targets towards $60 and beyond, while repeated failure would risk dragging the token back towards its $46 base.
HYPE approaches the critical $52 resistance, with a breakout eyed as the trigger for $60 upside targets. Source: JJcycles via X
Momentum indicators remain neutral, leaving room for an upside push if demand re-enters strongly. The next reaction around $52 will therefore act as the market’s compass, deciding whether accumulation resumes or short-term profit-taking dominates.
Final Thoughts: Hyperliquid Price Analysis
Hyperliquid is trading at $49.03 with daily volume near $393M. The token is holding inside a defined range, with $46 to $47 acting as strong structural support and $52 as the immediate resistance cap. Bulls have defended the lower boundary multiple times, and a sustained close above $52 could trigger upside targets at $55 and $60, in line with the broader channel structure that has guided price action this quarter.
Hyperliquid’s current price is $49.03, down 2.91% in the last 24 hours. Source: Brave New Coin
If the $50 level is maintained, the short-term bias stays constructive. Losing that pivot, however, would re-expose the $46 base and risk slowing momentum. For now, the market response around $50 to $52 will decide whether Hyperliquid can extend its advance or remain locked in consolidation.