Hyperliquid’s native token HYPE traded at approximately $93.09 on October 5, up 3.3% from the previous session and testing the upper limit of its recent trading range. The token has shown resilience above the $88–$90 support zone, with technical indicators largely pointing toward continued upward momentum amid a stretch in short-term momentum.
HYPE maintains support above $90, tests resistance
The trading session saw HYPE move between $89.63 and $93.73. Investing.com data places the 52-week range for HYPE between $20.51 and $97.98, with the recent high touched on September 23. After this peak, HYPE pulled back, consolidating for several sessions in the high-$80s to mid-$90s.
Technical support at $90 has acted as a key floor during this period. Analysts note that a consistent hold above $92 should preserve a bullish higher-low structure, while any move below $90 could signal weakening momentum.
TradingView analyst SmellyTaz described the current setup as a bullish sequence that began after a reaction from the $80–$84 demand area. The analysis points to $90.914 as a critical structural pivot that keeps the bullish case intact if price remains above this level.
SmellyTaz’s analysis highlights that, provided HYPE trades above $90.914, the path remains open for renewed upside, with initial targets in the $92.50–$94.00 range and further projections near $98.00 to $100.80.
RLinda, another TradingView contributor, identified $91.80–$92.00 as the breakout area, with resistance expected at $97.80, $100, and, in the event of a stronger rally, $110. RLinda also noted that Bitcoin’s strength may provide added support to the altcoin market.
These targets are not guaranteed outcomes, as price behavior around the $93–$94 region remains the first important hurdle for buyers.
| Price Level | Significance |
|---|---|
| $90 | Key short-term support |
| $91.80–$92.00 | Breakout trigger |
| $97.80 | First major resistance |
| $100–$100.80 | Main technical target |
Technical momentum remains firm
Technical indicators continue to show broad strength for HYPE. According to Investing.com, nine signals are currently pointing to a buy, with none registering as a sell. The Relative Strength Index (RSI) is at 68.50, just below the typical overbought threshold of 70, and the MACD remains in positive territory. An ADX reading of 57.53 underlines the strength of the ongoing trend.
However, shorter-term readings indicate the token is approaching overbought conditions. The Stochastic %K stands above 80, and the Williams %R also registers in the overbought zone. These do not imply an immediate reversal but do suggest that further consolidation or a brief pullback cannot be ruled out.
Momentum remains positive, but short-term indicators signal that HYPE could pause or correct before another push higher.
Moving averages reinforce the prevailing trend, with the 10-, 20-, 50-, 100-, and 200-period averages all positioned below the current price. The exception comes with the five-period simple moving average, reflecting recent short-term volatility.
Pivot levels set the central point near $93.32, with resistance at $93.79, $94.08, and $94.56. Support emerges at $93.03, $92.55, and $92.26. The $92.50–$94.00 region is seen as a pivotal area for the next move.
Underlying fundamentals and network utility
The value of HYPE is underpinned by the expanding capabilities of the Hyperliquid network. Hyperliquid is a Layer-1 decentralized derivatives platform where HYPE functions as the native token, supporting staking, transaction fees, governance, and security through delegated proof-of-stake.
HYPE holders can delegate tokens to validators for staking, enhancing network security and unlocking trading fee discounts. Higher staking balances correspond to greater trading fee reductions, and protocol-generated fees are channeled to community funds, including an Assistance Fund.
Recent market data showed HYPE’s market capitalization at approximately $20.1 billion, with a 24-hour trading volume near $456.9 million, reflecting strong investor interest in the sector.
Mini dictionary: Hyperliquid is a decentralized Layer-1 blockchain platform focused on derivatives trading and designed to deliver high-speed, scalable, and cost-efficient trading infrastructure for digital assets. Its delegated proof-of-stake consensus enables users to stake tokens while validating transactions and participating in governance.
Outlook: Key levels in focus for next move
For now, the technical structure appears constructive as long as HYPE maintains support above the $90.914 pivot and remains within the $92–$93 band. A break above $94 could set the stage for targeting the recent $97.98 high. Surpassing that level would put the psychological $100 barrier and $100.80 in play as next resistance zones.
If momentum falters and support at $92.50 gives way, the price could revisit support around $90 and potentially $88. HYPE remains close to its recent highs, with forthcoming price action in the $92–$94 window likely to determine its next direction.
