Hyperliquid’s price is doing its best impression of my career during midweek happy hour-sliding downward. 🍹 But hold onto your wallets, folks, because whale-sized accumulation might just be the life jacket this sinking token needs near the $36 support level.
The TL;DR:
- HYPE price decided to take a 9% nosedive to $37.6, but volumes are partying like it’s 1999. 🎉
- Whales are buying up HYPE like it’s a Black Friday deal. 🐋📉
- Technicals are giving us mixed signals, like my ex’s texts. Key support at $36, resistance at $42-choose wisely.
At press time, Hyperliquid was chilling at $37.63, down 9% in the last 24 hours. 📉 Over the week, it’s down 20%, and over the month, it’s lost 25% of its value. Basically, it’s 36% below its all-time high of $59.3 from September 18. So, yeah, it’s been a rough few weeks. 😬
Daily HYPE token trading volume shot up 59% to $796.7 million, which is like the crypto version of a caffeine spike. Derivatives volume also climbed 38.7% to $2.81 billion, while open interest dropped 7.7% to $1.59 billion. 🚀📊
Here’s the kicker: Rising derivatives activity with lower open interest usually means traders are closing or rotating positions. Translation: Short-term caution or volatility could be on the horizon. Buckle up, folks. 🎢
Whale Watch: 🐋👀
According to on-chain analysis by CryptoQuant contributor EgyHash (published November 3), big players are accumulating HYPE like it’s going out of style. Spot volume growth and rising average order sizes are pointing to accumulation behavior by whales. Futures data mirrors this trend, suggesting institutional or high-net-worth traders are jumping in too. 💼📈
Adding to the bullish vibes, Hyperliquid’s ecosystem is channeling a hefty chunk of protocol fees into buybacks. The Assistance Fund has already repurchased over $340 million this year and continues to buy regularly. Monthly buybacks of about $65 million and planned delegated programs could add some serious demand by year’s end. 💸📦
And wait, there’s more! Infrastructure improvements and exchange listings are fueling the hype (pun intended). Bybit, OKX, and Robinhood Europe have all added HYPE trading pairs, while Bitget Wallet’s HyperEVM bridge has attracted $4.5 billion in USD Coin (USDC) liquidity. 🏗️🌉
Oh, and let’s not forget the ETF filings by 21Shares and Bitwise-because institutional attention is the cherry on top of this rebound sundae. 🍒🍦
Technical Talk: 📉📈
HYPE is trading below the middle Bollinger Band on the daily chart (around $41). Cooling momentum is indicated by the price hugging the lower band like it’s a security blanket. The MACD is still negative, momentum indicators are bearish, and the relative strength index at 40 shows slight weakness. 🧐📉
Most short- and mid-term moving averages (10-100 day) are above the price and trending lower, confirming the short-term bearish structure. The $36-$38 range is crucial since it’s around the 200-day estimated moving average. A daily close below $36 could invite deeper selling toward $32, where previous buyers emerged. 🏴☠️💸
Resistance is located between $41 and $42. If bulls defend this level, a breakout could cause the market to pick up steam, targeting $49 and potentially $55-if those whales keep swimming upstream. 🐋🚀
Read More
- AAVE PREDICTION. AAVE cryptocurrency
- SKY PREDICTION. SKY cryptocurrency
- CNY JPY PREDICTION
- ETC PREDICTION. ETC cryptocurrency
- USD CAD PREDICTION
- EUR GBP PREDICTION
- QNT PREDICTION. QNT cryptocurrency
- GBP CHF PREDICTION
- BNSOL PREDICTION. BNSOL cryptocurrency
- ETH PREDICTION. ETH cryptocurrency
2025-11-04 11:58