Hyperliquid’s native token HYPE surged to a record $89.92, marking a new all-time high and propelling it into CoinMarketCap’s list of the ten largest cryptocurrencies by market capitalization.
Technical breakout drives HYPE rally
Technical analyst Aksel Kibar of Tech Charts stated that HYPE’s daily chart has shown a classic breakout, pullback, and continuation formation. This sequence, according to Kibar, signals strong bullish momentum with the token completing its local consolidation phase and moving decisively upward.
He described the recent market action as the completion of a textbook bullish setup. With HYPE breaking past previous resistance and entering price discovery, there are no clear overhead barriers from sellers, giving the token additional room to climb.
Breakout, pullback, and continuation pattern on the HYPEUSDT daily chart for Hyperliquid token against Tether confirms the bullish setup, according to Kibar’s analysis.
Kibar identified a calculated medium-term target of $100.5 for HYPE, based on chart patterns. The key support level now stands at $76.6, a price point that previously capped gains and now serves as primary defense for buyers.
Market position and liquidity
HYPE’s daily trading volume topped $1.58 billion, providing strong backing for the recent rally. At a market capitalization of $22.61 billion, Hyperliquid advanced to the 10th spot among global cryptocurrencies, surpassing Dogecoin and approaching Zcash in the rankings.
| Cryptocurrency | Market Cap | Ranking |
|---|---|---|
| Hyperliquid (HYPE) | $22.61 billion | 10 |
| Dogecoin | Below $22.61 billion | 11 |
| Zcash | Slightly above $22.61 billion | 9 |
The sustained demand for HYPE is underpinned by Hyperliquid’s unique deflationary structure. Nearly 99% of trading fees from the decentralized exchange are automatically used to buy back and burn HYPE tokens, directly reducing supply and providing long-term support for the price.
Mini dictionary: Hyperliquid is a decentralized exchange (DEX) that utilizes an automated market maker and deflationary tokenomics, meaning its native token supply decreases over time through programmed token burns funded by trading fees.
Outlook
The latest price structure shows HYPE remains under strong buying pressure, with the three-digit target projected by technical analysts appearing attainable in the short term. With trading momentum and liquidity both strong, the token’s upward trajectory continues to draw interest across the crypto sector.
The current chart structure suggests buyers remain in control, with a push toward $100.5 possible in the next trading sessions.
