HYPE price eyes another 25% gain as the asset clears a major hurdle, while growing institutional interest and persistent token burns strengthen the bullish outlook.
With a 3.95% price jump, Hyperliquid (HYPE) forms its third consecutive green candle and is now poised for a massive upside rally. This price jump triggered a breakout above prolonged resistance, while growing whale interest and rising market participation strengthened the asset’s bullish outlook.
At press, HYPE trades at $59.70, up 3.95% over the past 24 hours. During the same period, its trading volume jumped notably by 61% to $1.56 billion, indicating heightened participation from traders and investors.
This massive upside move and widespread attention from market participants raise questions about why the HYPE price is rising while the top asset continues to struggle.
Recently, Grayscale, the world’s largest digital asset-focused investment platform, shared a post on X, revealing that Multicoin Capital had recently invested over $100 million in HYPE. The post also noted that Spencer Applebaum told Grayscale that the firm was interested in Hyperliquid due to its potential to generate real cash flow, unlike crypto assets driven by speculation.
Another factor supporting HYPE’s upward momentum is Duquesne Family Office’s $23 million position in Hyperliquid Strategies Inc. This massive investment in the Nasdaq-listed company suggests that Duquesne has a strong interest in HYPE.
Additionally, Hyperliquid has burned a massive 5.49K HYPE tokens worth $309K over the past 24 hours, according to the crypto transaction tracker Onchain Lens. This notable token burning appears to be another factor behind the asset's upward move. Meanwhile, the project has generated fees of $1.21 million during the same period.
Meanwhile, another crypto transaction tracker Lookonchain suggests that institutions have stopped selling HYPE and started buying. A wallet linked to Maven11 Capital recently withdrew 202,705 HYPE worth $11.17 million from OKX.
All these developments together support HYPE’s upward rally. Now, the question is whether the HYPE price will continue to rise or if a potential correction is ahead.
According to TradingView’s daily chart, HYPE’s short-term bias appears bullish and is poised for an upside move. The chart shows that today’s 3.95% price jump helped the asset break above a key resistance level of $58.20, which has acted as a sell wall since July 27, 2026.
Following the breakout, the HYPE price has opened its door for a further rally. Based on the current price action, if the asset remains above the $58.20 level, the bullish outlook remains intact. In this case, HYPE’s price could see an upward rally of 25% and may reach the $74.20 level.
However, this bullish thesis could be invalidated if the HYPE price falls below the $58.20 level. In this scenario, the asset could potentially fall to the key support at $52.
Despite a bullish breakout and upward move, HYPE’s Average Directional Index (ADX) value has fallen to 14.79, below the key threshold of 25, indicating weaker trend strength. Meanwhile, the price remaining above the 200-day Exponential Moving Average (EMA) suggests that HYPE is in an uptrend and maintains strong bullish dominance.
HYPE’s price jumped 3.95% over the past 24 hours, while price action, massive institutional and whale interest, and persistent token burning suggest that the asset could continue this rally in the coming days.
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