Hyperliquid (HYPE) Price: Druckenmiller Just Put $23M In - Here’s What the Chart Says Next

TLDR

• HYPE is trading near $59.37, marking a second consecutive day of gains with bulls targeting $60.00.
• A whale withdrew 57,000 HYPE tokens worth $3.36 million from Coinbase, signaling accumulation.
• Hyperliquid Policy Center wrote to the SEC pushing for a pre-IPO futures trading framework.
• Derivatives volume rose 18.98% to $1.74 billion, with short liquidations doubling long liquidations.
• Key resistance sits at $62.48, with $68.00 as the next medium-term level if bulls break through.

Hyperliquid’s native token HYPE is holding above $59.00 on Tuesday, extending a two-day winning streak as buyers return to the market.

The token is currently trading near $59.37, sitting above its 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs). The MACD indicator has turned positive, and the RSI is sitting near 56, pointing to steady upward momentum.

A newly created wallet pulled 57,000 HYPE tokens, worth $3.36 million, out of Coinbase. Moving tokens off exchanges typically reduces immediately available supply, which traders often read as a bullish accumulation signal.

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