Hyperliquid (HYPE) Price Corrects After Massive Rally—But $100 Target Remains in Play

Hyperliquid has emerged as one of the strongest-performing cryptocurrencies in the market, maintaining a powerful uptrend over the past few weeks. The HYPE price recently climbed to a fresh all-time high of $64.32, reinforcing the growing bullish dominance. Although it has witnessed a couple of short-term pullbacks after its explosive rally, the price continues to hold firmly above the $61 range, keeping the broader upward structure intact.

Rising trading volume, sustained buying pressure, and the formation of consecutive higher highs suggest the current pullback could be a healthy consolidation before the next leg up. As a result, traders continue to anticipate a potential continuation of the rally toward the $100 milestone in the coming days.

Futures Market Remains Bullish Despite Ongoing Pullback

The derivatives data continues to support the broader bullish narrative for Hyperliquid, despite the ongoing short-term correction. According to the latest market data, Hyperliquid’s open interest has surged toward the $3 billion mark while the HYPE price continues to trade near its record highs. The simultaneous rise in price and open interest indicates that fresh capital continues to enter the market instead of traders merely rotating existing positions.

Meanwhile, the OI-weighted funding rate remains largely positive, highlighting that long-position dominance persists across the futures market. Although brief spikes in negative funding appeared during recent pullbacks, bulls quickly regained control as buying pressure returned near lower support levels. This suggests traders continue to buy dips aggressively rather than exit positions after the correction.

The combination of rising open interest, sustained bullish funding rates, and strong spot demand suggests that the current decline may be a healthy consolidation phase rather than the start of a broader reversal. If the HYPE price continues to hold above key support zones, the bullish momentum may remain intact, increasing the possibility of another breakout toward fresh all-time highs in the coming sessions.

Hyperliquid Price Eyes $100 as Bullish Breakout Structure Remains Intact

On the weekly timeframe, Hyperliquid continues to maintain a strong bullish structure after breaking toward a fresh all-time high near $64. The chart shows the HYPE price moving within a rising broadening pattern while consistently forming higher highs and higher lows, indicating sustained buyer dominance across the higher timeframe.

The latest breakout above the key 1.0 Fibonacci level near $59.40 suggests bulls are attempting to establish the level as new support. If the price successfully holds above this zone during the ongoing correction, the rally could quickly regain momentum toward the next Fibonacci resistance around $72.84, which coincides with the 1.272 extension level.

Beyond this, the broader breakout setup points toward the 1.618 Fibonacci extension near $89.93 as the next major upside target. A successful continuation above this region could eventually open the doors for a rally toward the psychological $100 mark and potentially the 2.0 Fibonacci extension around $108 in the longer term.

The technical indicators also continue to favor the bullish outlook. The weekly RSI remains above the neutral range despite entering overbought territory, highlighting persistent strength in momentum. Meanwhile, the Chaikin Money Flow indicator has started to recover from recent lows, suggesting capital inflows continue to support the ongoing uptrend. As long as the HYPE price maintains support above the previous breakout range, the broader bullish trajectory is likely to remain intact despite short-term volatility.

Wrapping it Up

Overall, Hyperliquid continues to display one of the strongest bullish structures in the current market cycle, with both price action and derivatives activity supporting the ongoing uptrend. While short-term volatility and profit-taking may trigger temporary pullbacks, the broader momentum remains tilted in favor of the bulls. If market conditions remain supportive, HYPE’s price could continue its price discovery phase and gradually work toward the highly anticipated $100 milestone in the coming weeks.