HYPE Price Rises as Trading Activity and Open Interest Increase

• HYPE is trading near $32.90 after a notable 15.67% 24-hour gain.
• Technical indicators show increasing buying momentum, though resistance near $34–$36 remains important.

Hyperliquid’s native token HYPE is trading at around $32.90, showing a 15.67% gain over the past 24 hours. During this period, the price ranged between an intraday low of $27.48 and a high of $34.64. The token’s market capitalization is about $9.93 billion, and 24-hour trading volume is near $912 million, reflecting increased participation in HYPE markets.

Recent activity on Hyperliquid has picked up, with open interest on the platform’s HIP-3 module rising to around $790 million, compared to roughly $260 million a month earlier. The increase has been supported by higher trading in commodity-linked perpetual contracts and steady participation across derivatives markets, alongside strong overall volume on the Hyperliquid decentralized exchange.

HYPE Shows Short-Term Recovery After Extended Consolidation

Looking at the daily chart, HYPE shows a sharp move higher after an extended period of sideways trading below $30. Price had been range-bound for several weeks, with resistance near the mid-$20 levels. The recent breakout above this range aligns with a rebound from earlier lows.

The RSI (14) currently sits near 70, indicating that buying momentum has increased relative to recent weeks. This higher reading suggests that demand has picked up, though it also reflects conditions that may lead to short pauses in upward movement if the indicator stays near the upper zone.

Momentum indicators on the chart also show a shift. The MACD line has moved above the signal line, and the histogram shows rising green bars. That highlighting a pickup in short-term buying interest. At the same time, the Bull Bear Power Trend indicator has turned positive, suggesting that bullish pressure is increasing relative to bearish pressure.

Zooming in, trend-strength readings such as the ADX are moderate, which suggests that while upward momentum is present, the move is not yet part of a prolonged trend. Price action continues to form higher lows after recent basing, but strong resistance remains ahead.

In the near term, key support is seen near $28, where price paused before the recent rally, while resistance lies in the $34–$36 area. A move beyond this zone could open the path toward $38–$40, where selling pressure has been noted in the past.

Overall, Hyperliquid’s price action reflects a short-term recovery phase with higher activity. But the broader trend remains dependent on continued participation and volume in the derivatives markets.