HYPE price eyes a strong upside move as its reversal from key support, whale activity, and bullish trader bets point to growing buying interest.
Hyperliquid (HYPE) shows signs of a potential reversal, as the current price action, alongside whale and trader activity, signals growing buying interest. Today, September 16, 2026, crypto transaction tracker Lookonchain revealed that a newly created wallet address, “0xF426,” purchased a massive 99,834 HYPE tokens worth $7.72 million via FalconX.
This massive acquisition occurred when the HYPE price was struggling near a key support level at $76, and it may have helped the recovery. However, for nearly four straight days, the token price has moved sideways in a tight consolidation between $76 and $80.50.
In addition to whale acquisition, the CoinGlass data also shows that intraday traders have a bullish outlook. The latest data from the HYPE exchange liquidation map shows that $74.15 on the lower side and $80.36 on the upper side are the key levels. At these levels, traders have opened massive long positions worth $40.07 million and short positions worth $18.21 million.
Meanwhile, HYPE’s OI-weighted funding rate also turns positive and reads 0.0074%, indicating that bullish sentiment among derivatives traders is gaining momentum.
Overall, with these acquisitions and bullish bets, it appears that HYPE has strong long-term and short-term potential.
At press time, HYPE trades at $78.40, down 0.38% over the past 24 hours, according to CoinMarketCap data. Despite the price continuing to struggle, the asset’s trading volume jumped 29% to $893 million during the same period, indicating heightened participation from traders and investors.
As per TradingView’s daily chart, HYPE is in an uptrend, and the ongoing sideways move seems to be a correction, as the asset rallied over 57% between August 17 and September 6, 2026. However, the key support level at $76 currently acts as a make-or-break level for HYPE, as there is no further support below this level.
Based on the current price action, if the HYPE price remains above the $76 level, the possibility of a price reversal in this scenario will be very high. However, if the asset fails to hold this key support, HYPE could potentially see a strong downside move until it reaches the next key support at $60.
At press time, HYPE’s Average Directional Index (ADX) reads 40.79, above the key threshold of 25, indicating strong trend strength. Meanwhile, the price being above the 200-day Exponential Moving Average (EMA) indicates that the asset’s broader sentiment remains in an uptrend and that bulls continue to dominate.
Despite these bullish developments, the thing that remains a red flag is the persistent outflows from spot ETFs since September 9, 2026.
According to SoSoValue, U.S. spot HYPE ETFs have recorded four straight outflows of $12.96 million, $5.29 million, $8.18 million, and $3.89 million, respectively. These continuous outflows from the ETFs indicate fading interest among Wall Street investors in the HYPE token.
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