Hyperliquid’s HYPE token is trading close to record territory after a powerful weekly rally pushed the price above $83 for the first time. Buyers remain in control as HYPE holds around the $80 level, while bullish momentum and positive capital flows are keeping the possibility of a move toward $90 and eventually $97 in focus.
However, the rally is beginning to look stretched. HYPE’s daily Relative Strength Index (RSI) has moved into overbought territory, while large liquidation clusters have formed both above and below the current price. This setup could lead to sharp volatility before the token establishes its next clear direction.
HYPE Holds Near Its All-Time High
Hyperliquid price traded near $80.50 on Aug. 25 after reaching an all-time high of approximately $83.27 over the weekend.
HYPE began the seven-day period near $69.60, meaning the token remains firmly higher for the week despite some profit-taking around its record high.
The strongest part of the rally began on Aug. 19, when HYPE surged from below $60 to around $70. Buyers maintained the momentum over the following sessions and eventually pushed the token above previous resistance levels around $75 that had limited gains during June and July.
After briefly climbing above $83, HYPE pulled back toward $78 before recovering above $80.
Recent price action suggests buyers have repeatedly stepped in around the $77–$78 region. At the same time, sellers continue to defend the $82–$83.50 area, creating an important short-term battle between bulls and bears.
The rally has also benefited from improving sentiment across the broader cryptocurrency market and reports of further adoption involving Hyperliquid’s trading infrastructure.
Falling U.S. Treasury yields have provided additional support for risk assets. Lower yields can improve investor appetite for higher-risk assets, including cryptocurrencies and altcoins such as HYPE.
$83.52 Is the Key Resistance for Hyperliquid Price
HYPE’s daily chart shows the token trading just below an important Fibonacci resistance level at $83.52.
A convincing daily close above this level could place Hyperliquid into price discovery, where previous price history provides fewer obvious resistance zones.
If bulls successfully clear $83.52, the psychological $90 level could become the next major target. Continued momentum could then open the door toward the $97–$100 region.
Crypto analyst Havoc noted that HYPE was forming its second-largest monthly candle, with the token gaining roughly 63%.
According to the analyst’s projection, if HYPE were to match the approximately 91% monthly expansion recorded in May, its price could approach $97 by the end of August.
That scenario, however, depends on buyers maintaining the current momentum.
Overbought RSI Raises Short-Term Correction Risk
Despite the bullish price structure, technical indicators suggest HYPE may be becoming overheated.
The daily RSI climbed to 74.91, moving above the 70 level commonly considered overbought. Its RSI moving average remained lower at 63.90.
An overbought RSI does not necessarily mean that a price decline is about to begin. During strong bullish trends, cryptocurrencies can remain overbought for extended periods.
Still, the reading indicates that HYPE has climbed rapidly in a relatively short period. That increases the possibility of profit-taking or a temporary consolidation before another major move.
The MACD indicator remains more supportive of bulls.
HYPE’s MACD line stood at 5.89 compared with a signal line of 3.28. The positive histogram reading of 2.61 also indicates that bullish momentum remains active.
Together, these indicators suggest that the broader trend remains positive, even though the market could experience short-term volatility.
4-Hour Chart Keeps HYPE’s Bullish Structure Intact
The shorter-term 4-hour chart also continues to favor buyers.
HYPE remains comfortably above its Supertrend level at approximately $73.05, which currently acts as an important technical support area.
The Chaikin Money Flow indicator also remained positive at 0.10. A CMF reading above zero generally indicates that capital inflows are stronger than outflows.
This is important because it suggests that HYPE’s rally may have meaningful buying demand behind it rather than being driven entirely by leveraged derivatives positions.
After its rapid breakout, HYPE has started consolidating inside a range of approximately $77 to $83.
This consolidation could be healthy for the market because it gives technical indicators an opportunity to cool after the sharp advance.
However, losing $77 would weaken the immediate bullish structure and could bring the $73.05 Supertrend support back into focus.
$71–$73 Becomes a Major Support Zone
Below the current consolidation range, the $71–$73 region represents one of the most important areas for HYPE bulls.
The $73.05 Supertrend level provides the first major technical support, while the former record and Fibonacci level around $71.14 strengthens the area.
HYPE struggled to move above this region several times during June and July. Because former resistance can become support after a breakout, traders may closely watch the zone during any deeper correction.
Holding above approximately $71 would keep the broader bullish structure relatively strong.
A more significant breakdown, however, could expose the 61.8% Fibonacci retracement around $61.41.
Below that, approximately $54.58 represents another major support level, although reaching it would require a much deeper reversal of HYPE’s current uptrend.
Liquidation Clusters Could Trigger Sharp HYPE Price Moves
The derivatives market adds another layer of uncertainty to HYPE’s short-term outlook.
The latest 24-hour liquidation heatmap shows significant leveraged positions concentrated on both sides of the current market price.
The nearest upside liquidity sits above $82, with additional concentrations extending between approximately $82.50 and $84.
Some of the strongest nearby clusters appear around $82.30 and $83.40.
If HYPE breaks decisively above $82, short sellers could be forced to close leveraged positions. Those liquidations can generate additional market buying and potentially accelerate the move toward the $83.27 record and $83.52 resistance.
A successful breakout could therefore create the conditions for a short squeeze and push HYPE further into price discovery.
However, similar risks exist in the opposite direction.
Losing $80 Could Put $77 Back in Focus
Significant downside liquidity has accumulated around $80, $79.30, and $78.40.
If HYPE loses the psychological $80 level, leveraged long positions could begin closing, potentially pulling the token toward those lower liquidity areas.
More substantial liquidation concentrations can be found around $76–$77.
That makes $77 particularly important for the short-term outlook. As long as buyers continue defending this area, HYPE’s recent consolidation can remain part of the broader bullish trend.
A decisive break below $77 would increase the likelihood of a correction toward $73.05 and potentially $71.14.
Can Hyperliquid Price Reach $97?
HYPE’s overall technical structure remains bullish, but reaching $97 will likely depend on whether buyers can overcome the immediate resistance around $83.
A daily close above $83.52 would be a significant bullish signal and could move HYPE into fresh price discovery.
In that scenario, $90 would become the first major psychological target. Sustained buying pressure above $90 could then make the $97–$100 region increasingly relevant.
For now, however, traders face a market with strong momentum but elevated short-term risks.
The daily RSI of 74.91 shows that HYPE is already overbought, while concentrated leveraged positions around the current price could amplify moves in either direction.
As long as HYPE remains above $77 and, more importantly, the $71–$73 support zone, bulls retain the broader technical advantage. A breakout above $83.52 could strengthen the case for $90 and eventually $97, while losing $77 could trigger a deeper correction before the uptrend resumes.
Disclaimer: This article is for informational and educational purposes only and does not constitute investment or financial advice.
