Hyperliquid Price Consolidates at $44 Amid Record Revenue Growth
Hyperliquid's HYPE token shows signs of stabilization at $44.59 after a week-long decline, with trading volume dropping 18% to $204.66 million. The narrow price range between $43.42 and $45.20 reflects market indecision, while the 30-day EMA at $44.04 suggests mid-term support.
Fundamentals remain strong as Hyperliquid generated $106 million in August revenue—a 23% monthly increase—from $400 billion in perpetual contract volume. This growth cements its position in decentralized derivatives trading, potentially supporting HYPE's valuation despite short-term volatility.
Technical indicators reveal weak momentum, with the MACD histogram at -0.196 and RSI-14 at 48.77. The token currently trades NEAR its 7-day SMA of $44.73, just below the $44.29 pivot point.
