Key Takeaways:
Hyperliquid's HYPE token traded at $70.11, up 7.5% in the past week, as it approached the critical $75 resistance level that has capped upside since May.
According to data from HyperScreener, the protocol's open interest across HIP-3, which handles real-world assets, stood at $2.97 billion after retreating from a peak of $3.09 billion last month. The token has formed a range between $53.35 and $74.78 over the past month, with the relative strength index holding above the neutral 50 mark and on-balance volume climbing steadily, signaling sustained buying pressure.
A breakout above $75 could trigger a short squeeze toward $100, representing 43% upside from current levels, while a rejection would leave HYPE vulnerable to a retest of the $57 support zone.
The $75 line and what it means for swing traders
The $74.78-to-$75 zone has acted as a ceiling since HYPE formed a double top at $75 in late June and retreated to $60 after hawkish remarks from the new Federal Reserve chair. For swing traders, the risk-to-reward is not yet ideal at current prices, according to technical analysis. A move toward $75 followed by a bearish rejection would present a short entry targeting the mid-range near $64 and the range-low support at $53.35. Conversely, a decisive weekly close above $75 would confirm the breakout and open the path toward $100.
Adoption catalysts driving demand
Hyperliquid's expansion into traditional finance has strengthened its fundamental case. The launch of trade.xyz, which allows users to speculate on tech stocks such as Alphabet and Apple and commodities including gold on-chain, has driven higher transaction volumes to the Hyperliquid L1 blockchain. The platform's perpetual futures were recently added to TradingView's charting interface, raising visibility among retail traders globally.
VALR, Africa's largest crypto exchange for perps, will use Hyperliquid's L1 as the infrastructure for its trading platform starting July 6. The project has also held discussions with key players in the traditional futures market, including the CME Group, according to reports.
Hyperliquid is one of the few large-cap crypto assets that maintained a long-term bullish trend through the broader market downturn since October 2025. The token has returned 175% year-to-date, one of the best performances in the crypto space. Whale profit-taking has been absorbed by steady demand, with the OBV continuing to climb even as some large holders reduced positions.
This article is for informational purposes only and does not constitute investment advice.
