Hyperliquid’s HYPE token has solidified its bullish momentum, climbing above the critical $90 resistance level as buyers continue to defend key support zones. The token is currently trading near $91.68, maintaining a series of higher lows and signaling renewed demand.
Buyers remain active after breakout above $90
Crypto analyst CryptoGuru12 identified a notable surge, highlighting a strong bullish candle that drove HYPE past recent resistance. The current structure persists as a sequence of higher lows, which many traders view as a sign of continued upward movement.
At this stage, CryptoGuru12 indicated a long setup between $91.50 and $93.40, with upside targets at $95.50, $98.00, and $100.50. However, this setup is considered invalid should HYPE fall below $88.50.
CryptoGuru12 outlined that the bullish setup remains intact as long as HYPE trades above $88.50, while $100.50 serves as a major target on the upside.
After reaching an all-time low near $52 in August, HYPE has demonstrated a sustained uptrend, accelerating after breaking the $90 threshold. The recent consolidation above this level has strengthened buyer control over the market.
Technical indicators confirm bullish momentum
HYPE remains above both its 20-day and medium-term EMAs, reinforcing the positive daily trend. The 20-day EMA stands at $83.20, serving as immediate support, while the $76.41 EMA is classified as medium-term support. The 14-day RSI sits at 65.09, indicating persistent momentum even after a minor retracement from a session high of $92.41.
| Support/Resistance | Price Level |
|---|---|
| Near-term support (20 EMA) | $83.20 |
| Medium-term support (EMA) | $76.41 |
| Invalidation Level | $88.50 |
| Resistance / Breakout | $93.39 |
| Target 1 | $95.50 |
| Target 2 | $98.00 |
| Target 3 | $100.50 |
With EMAs supporting the upward trend and technical indicators in positive territory, investors remain optimistic as long as HYPE holds above critical support.
Continuous token burns reinforce market backdrop
In addition to positive price action, Hyperliquid has continued its program of purchasing and burning HYPE tokens. Onchain Lens, an analytics platform, reported that Hyperliquid burned 26,310 HYPE recently, valued at approximately $2.42 million with a volume-weighted average price of $91.86.
These burns are part of a broader initiative, bringing the all-time cumulative burn to 48.76 million HYPE tokens, which represents 4.88% of the token’s maximum supply. Hyperliquid has also generated $64.34 million in revenues over the last 30 days and $1.26 billion in total revenue, highlighting the growing scale of its operations.
Hyperliquid’s cumulative HYPE token burn now stands at 48.76 million, accounting for almost 5% of its max supply.
While token burns typically decrease the circulating supply, their effectiveness in raising prices largely depends on sustained demand from market participants.
Confidential perpetual trading adds ecosystem growth
Hyperliquid’s ecosystem received another boost with the integration of confidential perpetual futures, a product launched by NEAR Protocol in collaboration with Hyperliquid. This advancement focuses on obscuring wallet attribution and funding flows rather than hiding the positions themselves, enhancing privacy for institutional traders.
Traders on the platform now have access to over 50 perpetual contracts with up to 40x leverage, with NEAR Intents handling funding mechanisms. Market data remains transparent, but individual wallets and funding trails become significantly harder to trace.
Mini dictionary: NEAR Protocol, a layer-1 blockchain designed for scalability, low fees, and developer-friendly smart contract functionality. The protocol has recently expanded into confidential DeFi products with Hyperliquid, offering advanced privacy features for financial transactions.
As HYPE maintains a position above critical support and the Hyperliquid ecosystem introduces new privacy-driven features, analysts will monitor price levels at $95.50, $98.00, and $100.50 as potential next upside targets. If prices fall below $88.50, attention may shift to the 20-day EMA at $83.20 as the next support.
