Hyperliquid (HYPE) has recorded a 3.47% gain against the US Dollar in the last 24 hours, reaching a price of $41.85. This increase has placed HYPE ahead of the broader cryptocurrency market, which saw a 2.12% rise over the same period. Against Bitcoin and Ethereum, HYPE gained 4.20% and 4.28% respectively, reflecting robust relative performance.
Signs of bullish trend amid extreme fear readings
Developed as a decentralized perpetual exchange, Hyperliquid blends on-chain and off-chain technologies to deliver fast and low-fee trading. Its core utility token, HYPE, is used within its ecosystem for governance and transaction purposes. The project has attracted attention for its unique technical architecture among DeFi platforms.
Over the last month, HYPE has risen by 13.64%, and since last year, the token is up 159.33%. The medium-term trajectory has also been positive, with a 72.84% increase reported over three months. HYPE has experienced relatively low volatility recently, recording 14 positive trading days in the past month and demonstrating resilience in recent market conditions.
Despite these gains, sentiment across the broader crypto market remains negative. The Fear & Greed index currently sits at 12, indicating “Extreme Fear” among cryptocurrency investors. Such levels are typically viewed as a sign of investor caution, sometimes hinting at potential reversal points or entry opportunities for traders.
At a technical level, HYPE is benefiting from support at $39.79, $38.73, and $37.24, while resistance is located at $42.34, $43.83, and $44.89. A review of 25 technical indicators shows that 23 are flagging bullish signals for Hyperliquid, with only 2 showing a bearish stance, contributing to overall positive sentiment for the time being.
Mixed indicators as analysts predict short-term drop
Despite the overall bullish technical backdrop, leading algorithmic forecasts suggest HYPE may see a substantial short-term decrease. Current models indicate a possible retreat to $32.03 within five days, representing a 23.35% decline from current levels.
Key moving averages, including the 3-day, 5-day, 10-day, 21-day, 50-day, 100-day, and 200-day simple and exponential averages, are signaling “buy” across most periods, reinforcing optimistic momentum in the short to medium term. However, the 50-day and 200-day simple moving averages show that HYPE is presently trading below these trendlines, which introduces an element of caution into future expectations.
Looking at oscillators, the Relative Strength Index (RSI) stands at 60.55, classifying HYPE as in a neutral zone, neither overbought nor oversold. Other metrics, like the Commodity Channel Index and Hull Moving Average, paint a mixed picture, indicating some pockets of selling pressure within technical readings.
Hyperliquid has previously reached an all-time high of $59.31 on September 18, 2025. The current price cycle’s high is $43.51, with the low marked at $20.53, highlighting the token’s historical volatility. Despite the current upswing, historical trends in the crypto sector underscore the risk of rapid price swings.
Market watchers are paying close attention to these movements. Hyperliquid’s rapid growth has brought it into focus as one of the more closely observed assets in DeFi, but extreme market sentiment and short-term predictions raise questions about the sustainability of recent gains.
The technical outlook remains positive, with 92% of indicators showing bullish momentum. However, upcoming days may present volatility, as suggested by algorithm forecasts pointing to a sharp drop.
