Hyperliquid price is crossing into uncharted territory with a new all-time high of $57.34. In just seven days, the token is up more than 24%, with a single-day surge of 2.47% pushing its market cap to $19.01 billion. Trading volumes have shot up nearly 40% in 24 hours, suggesting heightened interest and deep liquidity.
As someone following this rally closely, I see a mix of strong fundamentals and technical triggers shaping HYPE’s price run. But with momentum indicators flashing warnings, the question is whether HYPE can sustain its speed or if a cooldown is next. Join me as I take you through the factors that led to the surge and the potential price targets.
Several catalysts explain why the HYPE price has shot up big this week:
Liquidations have played a key role in HYPE’s latest surge. The chart by CoinGlass shows a cluster of short liquidations in late August, which helped fuel upward momentum as sellers were forced out. More recently, a wave of long liquidations around September 10 highlights the risks of chasing overbought levels. With $3.08 billion in longs and $3.21 billion in shorts. Successively, even modest price swings could trigger sharp liquidation cascades, amplifying volatility in the short term.
At the time of publication, HYPE is trading at $57.18, well above its 7-day SMA of $51 and 30-day EMA of $46.95. The move is technically impressive, confirming a strong bullish trend, but it also comes with caution flags. The 7-period RSI sits at 83.91, placing HYPE firmly in overbought territory.
Resistance now looms at $61.68, the Fibonacci 127.2% extension. A decisive breakout there could clear the path for Hype price toward the $73.84 target, aligning with the 200% Fibonacci level. On the downside, immediate support sits around $49.70, with deeper cushions near $40.33.
What reassures me here is liquidity. With turnover at 3.23% and volume rising nearly 40% daily, Hyperliquid appears well-equipped to absorb selling pressure if profit-taking kicks in. That said, chasing the rally at these levels requires tight risk management.
Yes, the RSI at 83.91 signals overbought conditions, suggesting a short-term pullback or consolidation is likely.
HYPE faces resistance at $61.68. A breakout above could target $73.84 in the medium term.
The Paxos USDH proposal and VanEck’s ETF plans are giving HYPE legitimacy, while Lion Group’s $600M conversion highlights growing institutional confidence.
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