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Hyperliquid’s HYPE Token Retreats to $30 Support After 326% Rally
Hyperliquid’s HYPE Token Retreats to $30 Support After 326% Rally
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Hyperliquid’s native token HYPE surged 326% from April lows to a record $39.93 before encountering resistance at $35.50. The decentralized perpetual trading platform saw weekly volumes hit $78.67 billion in mid-May, with single-day peaks reaching $17.73 billion.
Institutional interest fueled the rally, highlighted by trader James Wynn’s billion-dollar positions. Open interest surpassed $10.1 billion while total value locked doubled to $500 million since April. Despite bullish momentum, technical indicators show exhaustion as price consolidates between $30-$35 support.
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