HYPE is currently trading around $53.77 with a market cap of $13.58 billion and a daily volume exceeding $370 million. Despite a recent 2% dip, analysts are eyeing a critical support zone between $40 and $34 as a potential trigger for renewed buying interest and a possible rally toward $150.
Correction Tests Vital Support Levels
The token has retreated sharply from its earlier peak near $77, confirming warnings that the previous surge above $70 was risky. Crypto analyst Crypto Patel highlights the 0.5 to 0.618 Fibonacci retracement zone as the area to watch for accumulation. Should HYPE maintain above this range, it could reclaim its past highs and aim for the $100 to $150 territory. Traders remain cautious but optimistic, assessing whether this pullback offers a long-term entry point.
Hyperliquid Outpaces Uniswap V3 in Daily Fees
Hyperliquid’s decentralized perpetual futures platform recently generated approximately $2.6 million in protocol fees within 24 hours, narrowly surpassing Uniswap V3’s $2.5 million, according to MSB Intel. This milestone signals increasing adoption and highlights the growth of decentralized perpetual trading as users seek platforms offering deep liquidity and efficient execution. Surpassing a veteran decentralized exchange like Uniswap V3 underlines Hyperliquid’s rising influence in DeFi.
While HYPE’s price faces downward pressure, the improving overall crypto market conditions and strong fundamentals position it for a potential comeback.
Disclaimer: This material is for informational purposes and does not constitute financial advice.
