Hyperliquid Token (HYPE) Evaluates Essential Price floor as Traders Anticipate Possible $100 Recovery

The Hyperliquid coin (HYPE) experienced a decline for the fifth consecutive session on Tuesday, dropping roughly 6% during the day to the $45–$46 range before making a minor recovery today.

HYPE offers numerous advantages: minimal fees on perpetuals and spot trades. Additionally, there’s no KYC requirement as it operates on a decentralized exchange.

This latest movement compounds a week filled with consistent losses, but on-chain and technical metrics suggest that the selling pressure may be waning. Here’s the outlook for Hyperliquid:

Hyperliquid Token: Narrow Range Indicates Next Move, Potential Rounding Bottom or Deception?

In two weeks, many believe the alternative coin season will finally commence… perhaps in two weeks we’ll find ourselves repeating this sentiment. It’s uncertain! Currently, barrier level for Hyperliquid remains tight at $46.50–$47, halting every rally throughout the day.

Here are additional crucial technical insights:

• Bollinger Bands are contracting, often a precursor to a upward movement
• The moving averages are also converging.
• The 20-day and 200-day SMAs recently crossed near $45.5, forming a mini golden cross

On the chart, HYPE appears to be creating what looks like a rounding bottom. A confirmed price breakout could set a target between $47.50 and $48. The RSI currently stands at 67, indicating it’s close but not yet overheated. Volume hasn’t surged, suggesting quiet accumulation may occur before a significant move.

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Hyperliquid Derivatives Turn Bearish While Spot Markets Remain Strong

As per Coinglass, HYPE’s long-to-short ratio has fallen to 0.80, marking its lowest in over a month, indicating that futures traders are adopting a downtrend stance as the price dips. Momentum indicators also show caution, with the RSI below 50 and MACD signaling a bearish crossover.

Nonetheless, spot markets continue to maintain their strength. Price movements have repeatedly steadied in the mid-$40s, reminiscent of past consolidation areas that led to sharp upward movements.

$SUI surpasses Hyperliquid in daily DEX volume pic.twitter.com/gHoGbCHNNL

— ToreroRomero (@Torero_Romero) October 8, 2025

If there’s a downside, the next significant base level appears between $39 and $40. A clean break below that level would open up the potential for a deeper correction. On the flip side, regaining levels between $51 and $52 could likely set off a rally towards $55 and $60.

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Final Considerations on HYPE: What Lies Ahead?

Data from DeFi Llama indicates Hyperliquid is generating approximately $5 million daily in protocol revenue, representing a consistent income even while competing perpetual DEXs offer incentives. Approximately 660,000 HYPE (approximately $30 million) is staked, tightening circulating supply and supporting a potential recovery.

The critical trading range is between $44 and $49. A close above $49 would shift momentum to a optimistic stance targeting $52–$55, whereas a drop below $46–$47 could lead to another decline to $44 or even $40. With funding rates neutral and open interest decreasing, the current setup resembles past mid-cycle pullbacks often ending with a sharp recovery.

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The article Hyperliquid Crypto token (HYPE) Tests Key Base level as Traders Eye Potential $100 Rebound was first published on 99Bitcoins.