Hyperliquid (HYPE) Price Analysis: Strong Support at $28–$32 Signals $64 Target

Hyperliquid's price action is carving out a classic technical narrative—one that traders are watching with a mix of greed and skepticism.

Support Holds the Line

The $28 to $32 zone isn't just a number on a chart; it's a battleground. Recent price action shows consistent buying pressure in this range, turning it into a formidable support floor. Each test and hold here adds credibility to the bullish structure, suggesting the asset has found a base from which to launch its next move.

The Path to $64

Technical analysis points to a clear, if ambitious, target. The measured move from the established support, factoring in recent consolidation, projects a potential rally toward the $64 level. This isn't a guarantee—it's a probability play based on chart patterns and historical volatility. It represents a near 100% upside from the lower end of the support band, a figure that gets portfolio managers dreaming and risk officers sweating.

Market Mechanics in Play

For the target to materialize, sustained volume is non-negotiable. The move needs to bypass weak hands and absorb sell-side pressure at intermediate resistance levels. It's a game of momentum and conviction—two things the crypto market can conjure or evaporate in a tweet.

A final thought: in a sector where 'fundamentals' can mean a meme and a dream, technical levels like these offer a rare, cold-blooded logic. Just don't tell that to the guy who just mortgaged his house for a 'sure thing.'

Momentum Indicators Signal Early Recovery

The RSI sits at 46.5, rising from earlier lows but still below the 50 midpoint, indicating neutral-to-weak momentum. Its moving average at 54.39 remains higher, showing the RSI has not yet regained strength. This suggests early signs of recovery, but buyers have not taken full control, and momentum remains uncertain.

The MACD line remains below the signal line, indicating ongoing bearish momentum, but it can be observed that the bearish force, as represented by the histogram, is diminishing. This makes it indicative of an impending trend reversal. But until the MACD signal, the trend remains bearish.

Hyperliquid Treasury Maintains Full Transparency Standards

In the process, Hyperliquid Strategies, the HYPE treasury entity, transferred 12 million HYPE tokens to the entity called Hypercore, which had an equivalent value of $411 million. This represented 1.2% of the total HYPE supply as well as 3.54% of the circulating supply. This process involved 32 wallets and reflected the entire transparency of the HYPE treasury.

$PURR (Hyperliquid Strategies Inc) just moved all their in-kind HYPE contributions to Hypercore, fully exposing every wallet.

In total, 12M HYPE ($411M) was bridged from HyperEVM to Hypercore across 32 wallets, and they already began staking the HYPE, transferring a total of…

Additionally, the company has started staking, transferring 425,000 HYPE, worth roughly $14.5 million, into three wallets. This step indicates that the firm actively participates in the Hypercore network. The strategy launched by the firm to connect tokens from the HyperEVM and distribute them to the staking process enhances the liquidity of the ecosystem.