Hyperliquid Price Prediction: HYPE Targets $77 After Breakout Above $72

• HYPE’s breakout above $72 strengthens its bullish momentum and near-term outlook.
• Rising open interest shows renewed participation but also raises liquidation risks.
• FalconX transfers could add selling pressure despite improving HYPE spot inflows.

Hyperliquid’s HYPE token has entered a powerful breakout phase as rising prices and renewed market activity strengthen its bullish outlook. HYPE climbed to $71.86, gaining 23.03% within 24 hours. The token also posted a 25% weekly advance, pushing its market value near $16 billion. 

Moreover, trading volume reached roughly $1.48 billion, highlighting intense market participation. The move follows a sustained period of consolidation around $58 to $60. Consequently, HYPE now trades far above its major moving averages. However, growing exchange transfers could introduce fresh selling pressure during the rally.

Breakout Strengthens Above Key Levels

HYPE recently pushed through the upper boundary of its prolonged consolidation range. The breakout carried the token toward $72, where sellers have started testing bullish momentum. The 4-hour chart continues to show a strong upward structure.

The 20 EMA sits at $62.61, while the 50 EMA stands near $59.55. Additionally, the 100 EMA remains around $58.07, with the 200 EMA near $58.29. This alignment shows strong underlying momentum across the major trend indicators.

Significantly, the Supertrend indicator flipped bullish around $70.49. Hence, this level now represents an important line for short-term traders. Holding above $70.49 could keep buyers firmly in control.

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A decisive move above $72.55 would create room toward $75 and potentially $76.87. Conversely, losing $68.53 could encourage traders to secure profits.

Open Interest Signals Renewed Participation

Derivatives activity also supports the broader bullish structure surrounding HYPE. Open interest has expanded significantly since March, when it stood near $1.4 billion.

The metric climbed above $3.3 billion during HYPE’s earlier rally. Although leverage declined afterward, open interest remained elevated throughout July. Recent readings near $3 billion suggest traders have returned alongside the latest price surge.

Moreover, rising open interest alongside rising prices often indicates stronger speculative participation. However, this combination can also increase liquidation risks. Therefore, traders should watch whether OI expands alongside sustainable spot demand.

Spot Flows Improve Despite Selling Risk

HYPE’s spot flows have remained volatile throughout the recent market cycle. Heavy outflows dominated parts of late May and early June. Several withdrawals exceeded $40 million, with one period approaching $70 million.

However, the flow picture changed during June as substantial inflows returned. Since then, inflows and outflows have alternated, reflecting an uncertain but active market.

The latest data shows an $8.24 million net inflow on August 20. That movement coincided with HYPE trading near $72.15. Consequently, renewed inflows could provide additional support if buying demand continues.

FalconX Transfers Create a Caution Signal

Despite the bullish setup, recent wallet activity introduces another factor for traders. FalconX transferred 198,750 HYPE to Gate on August 19. The transfer represented roughly $14 million at prevailing prices.

Additionally, another wallet moved 47,000 HYPE worth approximately $3.35 million to FalconX. The wallet accumulated 178,700 HYPE during the previous two months.

Those transfers could indicate preparations for potential selling. However, transfers between institutional platforms do not guarantee immediate liquidation. Therefore, traders should monitor exchange balances and subsequent wallet movements.

Technical Outlook For Hyperliquid Price

Key levels remain well-defined as HYPE extends its breakout: 

Upside levels: $72.55 remains the immediate resistance, followed by $75.00 and $76.87. A decisive break above $76.87 could open the path toward higher extension targets. 

Downside levels: $70.49 Supertrend support, followed by $68.53 and $65.37. Deeper support sits around $63.15, while the broader breakout base remains near $60.93–$58.19. 

Resistance ceiling: $72.55 is the key level HYPE must reclaim decisively to sustain its short-term bullish momentum.

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The technical picture shows HYPE extending strongly after breaking above the $58–$60 consolidation range. Price remains above all major EMAs, while the bullish Supertrend reinforces the current trend. However, elevated open interest and recent exchange transfers could increase volatility.

Will Hyperliquid Go Up?

Hyperliquid’s next move depends largely on whether buyers can defend the $68.53–$70.49 support zone. A sustained hold could encourage another challenge of $72.55, with a breakout potentially targeting $75.00 and $76.87. Rising open interest and improving spot inflows could further strengthen the bullish case.

However, losing $68.53 could trigger profit-taking toward $65.37. A deeper break below $63.15 would weaken the breakout structure and raise the risk of a move toward $60.93–$58.19. For now, HYPE remains in a pivotal zone, with breakout continuation favored while buyers defend the key support band.