Hyperliquid (HYPE) Price: Can It Break Above $64 as Open Interest Hits Record $5.7 Billion?
TLDR
- HYPE is trading around $60.40, pressing against the $64 resistance level inside a falling wedge pattern
- Open Interest has hit a record $5.7 billion, showing growing derivatives participation
- Weekly active users have dropped from 190,000 in June to around 149,600
- A close above $64 could open the door to a move toward $72
- The 100-day EMA near $57.5 is acting as key support for bulls
Hyperliquid’s native token HYPE is trading around $60.40 after weeks of corrective price action. The token has been forming a falling wedge pattern, which is typically associated with a bullish reversal when buyers start to regain control.
After rallying to nearly $72, HYPE pulled back and has been carving out lower highs while holding support in the $56–57 range. The key level to watch now is $64, which has rejected buyers multiple times over the past month.
The RSI has recovered to around 45 after dipping close to oversold territory. The MACD histogram is also shrinking, which suggests that bearish momentum is easing. A bullish crossover has not yet formed, so confirmation is still needed.
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