HYPE is trading near a critical support zone as unlock-driven volatility, channel compression, and key resistance levels shape its next major move.
HYPE price today is trading around $34, holding a tight structure after a volatile week. While momentum remains fragile, multiple signals across the charts now show HYPE entering a decisive region where sentiment could flip sharply, either towards relief or another lower low.
This comes as the market reacts to fresh supply hitting the books, major technical inflection points, and a descending-channel structure that is beginning to tighten. Participants are watching closely to see whether HYPE can stabilize above the $31 to $32 band or if a deeper liquidity sweep unfolds.
HYPE Price Today Shows Heavy Tests Near Key Support
Hyperliquid has slipped into a narrowing structure on lower timeframes, with HYPE price repeatedly defending the $31 to $32 demand band. This zone has acted as a stabilizing floor throughout November, though the reaction has weakened with each retest. In the broader picture, the HYPE chart shows increasing volume spikes during dips, hinting at buyer interest, but not yet enough to force a clear reversal.
Hyperliquid’s current price is $34.32, up 1.04% in the last 24 hours. Source: Brave New Coin
Market participants remain cautious as price hovers beneath short-term moving averages and struggles to reclaim a clean higher high. Until momentum shifts, the current structure keeps HYPE vulnerable to liquidity grabs below $30.
Unlock Event Sparks Volatility Across HYPE Markets
A major catalyst this week came from the 2.66% circulating-supply unlock, highlighted by 0xMarioNawfal. Roughly $344M in HYPE from core contributors entered the market, a level of early insider supply that typically creates short-term instability.
HYPE’s 2.66% circulating-supply unlock injected $344M of new tokens into the market, sparking sharp volatility as fresh supply met immediate resistance. Source: 0xMarioNawfal via X
The unlock triggered a wave of two-way movement: sharp reactions up the order book followed by immediate pushback, aligning with historical behavior seen during large vesting events. Market watchers expect short-term volatility to remain elevated until the new supply is fully absorbed.
Local Structure at a Turning Point
A chart shared through AltCryptoGems illustrates a clean sequence of lower highs and lower lows, with HYPE now pressing into a critical resistance that decides whether the trend breaks or extends lower.
HYPE’s price action now sits at a key decision zone, where reclaiming resistance or rejecting it will determine the next major trend move. Source: AltCryptoGems via X
The structure resembles a textbook mid-trend decision zone: reclaim resistance, relief rally or rejection, continuation of the dominant downtrend.
The analyst highlighted two possible outcomes:
- Reclaiming the local resistance and beginning a recovery
- Failing the retest and printing another lower high
The next 24–48 hours of candle closes around $34 to $35 will reveal which path dominates.
LTF Momentum Show Mixed Signals
A lower-timeframe look shared by Atrades shows HYPE trading tightly around its VWAP bands, with price flipping between the upper and lower bands without establishing clear dominance.
This type of behavior typically reflects indecision or early accumulation, but it can also precede sharp corrections if macro structure remains weak.
HYPE’s lower-timeframe structure remains indecisive around VWAP bands, signaling potential for either accumulation or a breakdown towards $29.50. Source: Atrades via X
The important observation from the chart: a clean breakdown towards $29.50 is still possible. On the upside, reclaiming the local distribution block around $36 to $37 is the first real sign of bullish continuation.
Descending Channel Pattern Adds One Bullish Argument
Don’s analysis adds a different angle: HYPE is currently trading inside a descending channel, a pattern that often precedes trend reversals when buyers step in aggressively at the lower boundary. His chart marks $60 as a technical target if HYPE manages to break above the channel’s midline and then its upper boundary.
While the setup is valid, channel reversals only gain traction if volume expands, something HYPE has not consistently shown yet. For now, the channel is still a guide, not confirmation.
HYPE continues to trade within a descending channel, a structure that could flip bullish if buyers reclaim key levels and volume expands. Source: Don via X
Hyperliquid Price Prediction: Outlook and Scenarios
Price is now approaching a zone where volatility will expand in either direction. HYPE has a genuine chance to build a base here, but only if the $31–$32 support continues to hold.
Bullish Scenario (Speculative)
If HYPE defends support and reclaims the $36–$37 resistance block, momentum could shift quickly. The next upside zones include $42, followed by $45, aligning with earlier swing highs.
A more extended move, especially if the descending channel breaks, pulls the chart towards $55 to $60, Don’s long-term structural target. Strong volume and a close above $37 are the key confirmations.
Bearish Scenario
If HYPE loses the $31 to $32 support cluster, the chart opens room towards $29.50, the important liquidity zone highlighted.
Below this, the structure becomes more fragile, exposing $27, and in an extreme case $25 if broader crypto sentiment weakens. Continuation of the lower-high formation would keep bears in control.
Final Thoughts
Hyperliquid is entering a critical stretch where supply dynamics, technical compression, and broader market sentiment intersect. With the unlock now behind the market, the next test lies entirely in whether price can reclaim lost structure and form a higher low.
The chart is still balanced between risk and opportunity, and the coming sessions will reveal whether HYPE transitions into recovery or extends its lower-high pattern. For now, participants are keeping close attention on the $31 to $32 support zone.