The price of Hyperliquid (HYPE) declined on Tuesday, September 8, 2026, with analysts noting renewed pressure near critical resistance zones. Trading volume and open interest also fell, signaling caution among market participants as token supply reductions continued.
Technical Resistance Challenges Price Momentum
Market analyst Crypto Patel pointed to a significant supply zone for HYPE between $84 and $90, describing the area as a risk for new long trades because of consistent rejection signals and waning bullish momentum observed in this price range. Patel identified possible downside targets at $76, $68, and $60 should a correction occur.
Patel also highlighted the $60–$58 range as a principal demand zone, where a previous bullish order block coincides with an ascending trendline—offering potential support if the price tests lower levels. He stated that the broader price structure still shows signs of strength; however, his short-term outlook remains bearish unless HYPE closes a daily candle above $90.
Team LAMBO Charts, another technical analyst, reinforced similar concerns, noting the strong resistance between $90 and $95 and suggesting that a breakout above this barrier could be confirmed by increased trading volume. Until such a breakout is confirmed, the area is likely to attract sellers, with $60 serving as a key area for dip buyers to monitor.
Crypto Patel emphasized the $84–$90 region as a daily supply zone, highlighting fading bullish momentum and warning that this area remains risky for initiating long positions until a decisive breakout occurs above $90.
Liquidation Clusters and Derivatives Activity
Data from CoinGlass reveals that HYPE futures trading volume dropped by 8.53% to $2.34 billion, while open interest contracted by 2.21% to $3.36 billion. The OI-Weighted Funding Rate for HYPE futures currently stands at 0.0084%.
A CoinGlass heatmap indicated that HYPE’s price moved down from $85.5 to $81.5 before recovering to $83.7. The heatmap shows notable liquidation clusters clustered near $84.0–$84.5, and additional concentrations between $85.6 and $86.1, with the highest intensity found at $87.0.
An added overhead cluster emerged at $88.6, while substantial areas of interest were also observed between $82.0–$82.7 and $80.7–$81.2. Despite these clusters, there is no clear directional signal for the next significant move as traders await clarity following the rebound.
EMAs, Bollinger Bands, and Onchain Activity
According to TradingView, HYPE remained above key short-term exponential moving averages despite the pullback. The 20-day EMA is at $80.212, the 50-day at $72.021, the 100-day at $65.431, and the 200-day at $57.021. All shorter-term EMAs remain above the longer-term averages, indicating a generally bullish market structure for now.
Bollinger Band data shows the upper boundary at $89.302, the lower at $75.141, and the middle at $82.222, placing HYPE in the upper portion of the range. Onchain Lens reported that Hyperliquid recently purchased and burned 15,350 HYPE tokens valued at approximately $1.32 million, at an average price of $86.17 over the last 24 hours.
Lifetime, the project has burned 48.45 million HYPE, accounting for 4.84% of the maximum token supply, with the total burn value reaching around $4.11 billion. Despite this significant decrease in circulating supply, the recent reduction did not immediately influence trading activity amid the market retracement.
With 15,350 HYPE tokens burned in the past 24 hours at a $1.32 million value, Hyperliquid’s ongoing reduction of circulating supply brings the lifetime burned total to 48.45 million tokens.
As market observers monitor ongoing developments, the shifting technical landscape draws attention to the intersection of traditional and decentralized markets. While conventional systems often depend on intermediary brokers, platforms like 1stepSwap now enable investors to hold tokenized shares of leading U.S. companies, as well as gold and silver, directly within their crypto wallets. This evolution leverages Web3 to eliminate middlemen by tokenizing real-world assets and instantly finding optimal prices for users.
HYPE’s current price action, combined with active burning initiatives and evolving market infrastructure, continues to influence sentiment and trading strategies going into the next sessions.
