Crypto
HYPE price nears breakout level as whale buys $85M in tokens
HYPE price retests key resistance as a whale accumulates $85 million in tokens. Rising demand and liquidity clusters are now in focus.
1h ago 4,280
BLOCKINSIDERLoadingHYPE price retests key resistance as a whale accumulates $85 million in tokens. Rising demand and liquidity clusters are now in focus.
The HYPE price is back at a critical technical level after a week of aggressive accumulation from a large holder. According to Lookonchain, a wallet identified as 0x6436…8db7 withdrew another 88,350 HYPE worth $6.41 million from exchanges within a single hour on 17 June.
The latest transfer brings the wallet's total exchange withdrawals to 1.23 million HYPE valued at $85.34 million over the past seven days. The activity follows a brief period of inactivity and suggests the holder remains confident in Hyperliquid's native token despite recent market volatility.
The renewed accumulation arrives as HYPE continues to attract attention across spot and derivatives markets. Market participants are now assessing whether growing demand can push the token through a resistance level that has repeatedly capped gains this month.
Spot market participation also accelerated on 17 June.
According to CoinGlass analytics, HYPE recorded $92.19 million in inflows and $76.46 million in outflows during the latest session. Both figures represent elevated activity compared with recent weeks and highlight growing interest around the token.
While inflows exceeded outflows, the broader takeaway is that traders are becoming increasingly active as HYPE approaches a key technical level. Rising activity during resistance tests often reflects stronger conviction from both buyers and sellers.
The combination of large whale withdrawals and expanding spot volumes suggests market participants are closely monitoring HYPE's next move.
HYPE price action remains bullish after recovering from recent lows and retesting a key resistance zone that may determine its next move.
The token traded at $75.89 on 17 June, according to TradingView data.
After rebounding from support near $52.78, HYPE has gained more than 40% and returned to the $75–$76 resistance area, a level that previously rejected price advances. Buyers are now attempting to secure a breakout and extend the uptrend.
Momentum indicators remain supportive. The Relative Strength Index (RSI) stands at 65.65, above its moving average near 53.90, indicating strong buying pressure while remaining below overbought levels.
A confirmed daily close above $75–$76 could push HYPE toward $80 and $85. However, failure to break resistance may trigger a pullback toward support around $68 or $60 before another attempt higher.
Derivatives data shows another reason traders are focused on the current price area.
CoinGlass liquidation heatmap data reveals a dense concentration of liquidity between $76 and $77. Large liquidity pools often attract price action because they contain clusters of leveraged positions that can be forced to close when triggered.
The largest concentration currently sits just above the market, suggesting a breakout through resistance could trigger a wave of liquidations from short positions.
If that scenario develops, the resulting volatility could accelerate the move higher and increase trading activity across futures markets.
The HYPE price is testing one of its most important levels of the month while whale accumulation continues in the background.
A wallet that has withdrawn more than $85 million worth of HYPE from exchanges over the past week is reinforcing the narrative of long-term conviction. Rising spot market activity and strengthening technical indicators add to that picture.
For now, the $75-$76 zone remains the level to watch. A decisive break above it could expose the large liquidity cluster sitting overhead and strengthen the case for further gains in the sessions ahead.
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