Hyperliquid’s HYPE token shows resilience amid shifting whale sentiment and bullish technical signals
Despite short-term stagnation, large traders are increasingly betting on HYPE's upside, supported by bullish market indicators and strong trading activity on Hyperliquid’s platform.
Despite short-term stagnation, large traders are increasingly betting on HYPE's upside, supported by bullish market indicators and strong trading activity on Hyperliquid’s platform.
Hyperliquid’s HYPE token has been treading water in the short term, but the wider picture remains constructive as large traders continue to lean into long exposure on the platform. According to AMBCrypto, whales have been adding bullish positions since Bitcoin’s breakout, and that trend has broadened across assets available on Hyperliquid’s perpetuals exchange, helping to support trading activity and sentiment. CoinMarketCap’s live data puts HYPE around $41.36, giving it a market value of just over $10.5 billion.
That said, the positioning picture is not one-sided. AMBCrypto noted that funding rates were still negative, which implies shorts are paying longs to hold positions open, a sign that conviction has not fully shifted in favour of buyers. MEXC has also reported that whale books on Hyperliquid are close to balanced overall, with the scale of open interest underlining how quickly the venue has become a major derivatives destination.
On the charts, HYPE has held an uptrend since mid-January, repeatedly respecting support on a rising trendline. AMBCrypto said sentiment had improved markedly, climbing from late-September lows to above 80%, while its bull-bear reading has improved even though it remains slightly negative. The token’s recent pullback from around $45 towards $40 appears to have lost momentum, which could leave room for another attempt higher if buyers defend the lower end of that range.
A move back above the recent highs would put $50 back into view, with a more extended run potentially opening the way towards the $60 area, according to AMBCrypto’s technical outlook. That bullish case is being reinforced by Hyperliquid’s business performance: the platform has been generating the highest daily revenue among perpetual DEXs, and the broader sector has been one of the strongest performers in crypto this month. CoinMarketCap also reported that whale accumulation, a token burn and anticipation around future upgrades have supported the case for further upside, although confirmation from price action is still needed.
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Source: Noah Wire Services