TLDR:
- Hyperliquid (HYPE) retests the $35–$36 zone, a critical support that turned from previous resistance.
- A breakout above key EMAs may confirm a bullish trend reversal toward the $44–$50 zone.
- Hyperliquid ranks third in Web3 revenue, with 93% of fees used for HYPE buybacks.
- Long-term structure remains intact with strong support levels at $30, $26, and $20.
The Hyperliquid (HYPE) token is showing early signs of strength as traders monitor a critical trend reclaim on the chart. Following a steep correction, bulls are looking for confirmation above a key support zone to revive the prior rally.
With HYPE still among the top revenue-generating protocols, technical and fundamental signals suggest a potential turnaround.
Investors are observing how the price reacts to trendlines and moving averages that once fueled its breakout. This area may prove pivotal in shaping the next move for the HYPE price.
HYPE Traders Monitor $35–$36 Zone for Breakout Setup
Hyperliquid’s HYPE token is now retesting a horizontal support zone between $35 and $36.
The level previously served as resistance before flipping into support during the last bullish leg. After dipping to $34.93, the price bounced, suggesting early buyer interest.
actively watching for a reclaim of this trend to run it back
thesis is simple: reclaiming the same trend that allowed for this to be an outperformer in the first place = potentially same rally as well
nice horizontal resistance as confluence to be flipped into support. pic.twitter.com/wQewRsOaIz
— Mercury (@TraderMercury) June 23, 2025
According to a 2-hour chart shared by crypto analyst Mercury, this trendline played a key role in HYPE’s earlier run. Mercury stated that a clean reclaim could trigger a similar move back toward the highs.
Technical confluence with the moving averages adds weight to this zone’s importance.
HYPE recently slipped below two key moving averages, likely the 50 and 200 EMAs, but is now attempting a breakout above them. These levels often act as dynamic trend guides. Regaining them may signal renewed bullish momentum.
Price consolidation above these moving averages could establish a strong base for a fresh move higher. Mercury’s chart outlines a potential upward continuation pattern, forming just above the $36 level. If confirmed, traders may expect a climb toward the $44–$50 range.
Strong Hyperliquid Fundamentals Back Price Structure
On-chain metrics continue to support HYPE’s long-term strength.
As reported by user Jenn, Hyperliquid ranks third in Web3 revenue generation, only behind Tether and Circle. Importantly, 93% of the collected fees are used to buy back HYPE from the market.
Meanwhile, 7% goes to liquidity providers, reinforcing long-term sustainability. Another contributor, NMTD.HL, noted that Hyperliquid’s assistance fund is expected to purchase $150–$200 million worth of HYPE over the next two months.
Hard to say what will happen to $HYPE price in the next few days, but once you look at the bigger picture, it’s the most comfortable hold in the whole market.
-HyperCore dominance Vs CeX’s continues to grow.
-HyperEVM is becoming one of the top smart contract chains.
-The… pic.twitter.com/ujQhaFlKDh— NMTD.HL (@NMTD8) June 23, 2025
Despite the recent price drop, HYPE maintains strong structural support at $30, $26, and $20. These levels provide a cushion in case of further downside. As long as the $35–$36 zone holds, bulls remain in control of the short-term trend.
With daily trading volume surpassing $425 million and price holding above $34, HYPE may be preparing for another upward leg. Traders are waiting for confirmation of strength in the coming sessions.
The post Hyperliquid Eyes Trend Reclaim as HYPE Bulls Target Price Recovery appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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