HYPE Breaks Out Near $71 With a Short‑Term $77 Target
The move signals short-term bullish momentum from Hyperliquid’s dominant perpetuals market share with aggressive fee-funded buybacks reducing circulating supply.
Overview
- HYPE confirmed a 30-minute symmetrical-triangle breakout around $71 on Sunday, producing a measured near-term target of about $76.99 and turning the former resistance into immediate support.
- Traders say the breakout would be invalidated if price drops back below the $67–68 zone and that deeper structural support sits near $58.56 from the recent swing low and the 50-day EMA.
- Momentum indicators are neutral-to-bullish with the 14-period RSI around 55–60, a stabilizing MACD, and a recovering Stochastic RSI, leaving room for further upside without an overbought reading.
- Protocol fundamentals bolstering sentiment include a 68.4% share of decentralized perpetuals volume (about 7.4% of global perpetuals when including centralised venues) and a buyback policy that directs roughly 99% of specified fees to open-market repurchases.
- Market flows and liquidity remain the key watchpoints because large net bridged inflows and about 46.8 million tokens already repurchased since late 2024 can support a rally, but sustained gains require continued volume, buybacks and broader market stability while some analysts expect a $50–75 consolidation before any move toward $100.