HYPE, the native token of Hyperliquid, is drawing significant attention as its spot flows and price action both show signs of momentum. Over the past 12 hours, the protocol recorded a surge in spot net inflows, signaling a rebound supported by direct buying rather than solely derivatives activity.
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AAPLSpot inflows outweigh selling pressure
Within the most recent 12-hour window, HYPE attracted about $8.84 million in spot inflows compared to $7.31 million in spot outflows, resulting in a net inflow of roughly $1.53 million. This represents a substantial 353.49% increase in the net change metric for spot transactions.
However, the shorter-term data tells a different story. Over four hours, the spot net flow sits at approximately -$381,000, while the eight-hour figure is around -$287,000. This contrast indicates that the earlier period saw stronger purchasing, while more recent activity has leaned toward selling. Nonetheless, the longer 12-hour reading still tips the scale in favor of accumulation.
| Time Window | Spot Net Flow | Futures Net Flow |
|---|---|---|
| 4 hours | -$381,000 | -$7.47 million |
| 8 hours | -$287,000 | -$4.85 million |
| 12 hours | +$1.53 million | -$9.59 million |
Differences in spot and futures activity
While spot flows have turned positive on a 12-hour basis, the futures market displays a contrasting trend. HYPE logged approximately $102.25 million in 12-hour futures outflows and $92.66 million in inflows, leaving a negative balance of $9.59 million. Both eight- and four-hour futures flows also remain in negative territory.
This divergence between spot and futures flows is seen as constructive for the token’s setup. Direct spot purchases represent true accumulation, whereas futures positions allow for leveraged trading that does not always reflect underlying demand. Strong spot inflows combined with derivatives outflows may suggest that leverage is leaving the market, but underlying demand remains steady.
Mini dictionary: Hyperliquid is a decentralized derivatives exchange platform designed to offer on-chain perpetual trading for various cryptocurrencies.
Technical resistance and support levels
HYPE currently changes hands around $56.58, having bounced back from support near $52. The price is now testing the 100-day moving average at $56.65 and a short-term moving average close to $56.87. Establishing sustained support above the $57 mark could signal a decisive breakout from recent price consolidation.
The next resistance zone targets the 50-day moving average near $60.69. A push through the $60 to $61 range could open up higher targets between $64 and $66, potentially strengthening the ongoing recovery scenario for the asset.
Below, the 200-day moving average sits at $50.94, continuing to provide a robust foundation of long-term support for buyers tracking the market’s broader trend.
Positive 12-hour spot inflows, reduced futures exposure, and price action around key resistance levels suggest that HYPE’s current momentum may have stronger backing than previous leverage-driven rallies.
Despite the surge in spot flows, analysts caution that there is no guarantee of continued upside, especially as short-term spot flows have dipped back into negative numbers. The market appears to be balancing between spot-driven demand and leveraged positions unwinding.
