Hyperliquid price is approaching a key resistance level, and shrinking volatility suggests a possible breakout toward $35.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n At press time, Hyperliquid (HYPE<\/a>) was trading at $31.24, down 5.7% in the past 24 hours. Over the last week, it moved between $26.22 and $33.33, ending roughly 7% higher. However, the token has decreased by roughly 10% per month. <\/p>\n HYPE continues to be one of the better-performing altcoins despite the recent decline. Over the past year, the token has increased by about 80%, despite difficulties in the larger cryptocurrency market.<\/p>\n Derivatives activity has cooled slightly. CoinGlass data<\/a> shows that trading volume dropped 18% to about $1.25 billion, while open interest fell 7.5% to $1.21 billion, showing some traders closing their positions.<\/p>\n HYPE\u2019s price is influenced by several structural factors.\u00a0 The core of Hyperliquid\u2019s ecosystem is perpetual futures trading, and the Assistance Fund for token buybacks receives about 97% of platform fees. <\/p>\n Increases in trading are directly correlated with increases in buybacks. For example, when trading volumes averaged $29 billion daily, $5.82 million in buybacks were generated, demonstrating a direct correlation between trading demand and token support.<\/p>\n <\/p>\n Market sentiment has also been influenced by protocol upgrades. Permissionless perpetual markets were introduced by HIP-3, which produced a total volume of about $83 billion.\u00a0<\/p>\n HIP-4 proposal<\/a> aims to launch outcome trading products, combining prediction markets, options, and binary-style contracts. These additions could expand platform activity if more retail or institutional traders participate.<\/p>\n HYPE appears to be entering a compressed volatility phase. Bollinger Bands have tightened on the daily chart, which is frequently an indication of an impending big move. <\/p>\n The upper band, which has caused pullbacks in recent sessions, is being tested by the price.<\/p>\n The structure of the market has improved. HYPE has formed a string of higher lows around $26 and $29 since late January, indicating that buyers are intervening earlier on dips. This outlook is also supported by momentum indicators.\u00a0<\/p>\n There is potential for more gains as the relative strength index is in the mid-50s and trending upward. Meanwhile, the mid-Bollinger Band has been offering dynamic support around $29. <\/p>\n A move toward $35 could ensue if HYPE breaks above $33\u2013$34, with a possible extension to $38 if buying pressure increases. Deeper losses could retest<\/a> the $26 base, and rejection at resistance could push the token back toward $29 on the downside.<\/p>\n <\/p><\/div>\n\n
HYPE token fundamentals<\/h2>\n
Hyperliquid price technical analysis<\/h2>\n
![\"Hyperliquid](\"https:\/\/media.crypto.news\/2026\/03\/Image-05-03-2026-at-18.40.webp\")