The move has brought the $77-$79 area into focus as the next major resistance zone, while traders are watching whether Hyperliquid can establish a sustained breakout above that range.
Recent market data shows HYPE trading around $76 after climbing sharply from the high-$50s earlier in August. On Aug. 21, the token rose from an intraday low near $61.42 to a high around $77. The following session remained volatile, with Hyperliquid reaching roughly $75 before pulling back.
That price action leaves HYPE close to the highs identified in recent technical analyses. A decisive move beyond the $75-$77 area could strengthen the bullish structure and put $89 among the next upside levels discussed by traders. However, the token’s rapid recovery has also pushed several momentum indicators into overbought territory, making consolidation a key part of the current setup.
HYPE Price Consolidates Near ATH
HYPE’s latest move has been notable for its speed. The token closed at $56.85 on Aug. 15 before advancing to $59.33 on Aug. 17 and then accelerating higher. By Aug. 19, Hyperliquid had reached an intraday high of about $61.88 on one major price feed, while the next session saw a much larger move toward $74.55.
HYPE is outperforming the broader market and is testing its ATH, giving the coin strong potential for further upside. Source: RLinda on TradingView
The rally has brought the price back into a zone that previously acted as a major barrier. TradingView analyst RLinda identified $75.88 as the key resistance level and highlighted $71.27 and $69.11 as nearby support areas.
The technical idea is relatively straightforward: holding above the upper-$60s and reclaiming the mid-$70s would keep the recent bullish structure intact. A sustained close above the resistance zone, rather than a brief intraday move, would provide stronger confirmation that buyers are gaining control.
Another TradingView analysis by Bixley2 identified a triangle structure on the weekly chart and interpreted the breakout as a potential continuation signal. Such chart patterns can provide useful context, but they do not guarantee that price will follow the projected path.
$89 Emerges as Key HYPE Price Target
The $89 level has gained attention as a potential next target if HYPE breaks decisively above its recent high zone.
RLinda’s analysis places a potential move toward $88.90 after a breakout above $75.88. That projection would represent a move of roughly 18% from the $75 area, giving traders a clearly defined level to monitor rather than relying on an open-ended bullish forecast.
Weekly triangle breakout, with the bar pattern suggesting further upside. One of the stronger altcoin setups to watch. Source: Bixley2 on TradingView
The setup also fits with Hyperliquid’s broader trend. Price remains substantially above its longer-term moving averages, while the 50-day average is positioned above the 200-day average in the technical readings cited in the source material. This structure is generally associated with an established medium- to long-term uptrend.
At the same time, the strength of the move warrants caution. RSI readings have recently moved well above the conventional 70 threshold, while Stochastic readings have also reached elevated levels. These conditions do not automatically signal a reversal, but they indicate that momentum has become stretched and that periods of sideways trading or short-term retracement are possible.
HYPE Technical Analysis Shows Mixed Momentum Signals
Moving averages currently provide the clearest bullish element of the HYPE technical picture. The token is trading above its short-, medium-, and long-term averages, including the 50-day and 200-day measures cited in recent technical data.
MACD and ADX readings have also supported the prevailing trend in the source analysis. A positive MACD configuration can indicate that upward momentum remains intact, while an ADX reading above 25 generally points to a strengthening trend.
HYPE is nearing the $72-$76 bearish OB, with rejection potentially triggering a 20%-30% drop toward the $53-$56 bullish OB. Source: @CryptoPatel via X
The oscillators tell a more cautious story. Elevated RSI and Stochastic readings suggest that buyers have already driven the market significantly higher in a short period. That creates room for profit-taking even if the broader trend remains positive.
For this reason, the $69-$73 region could become important if the price fails to clear resistance immediately. A deeper correction could bring the token back toward its 50-day moving average around the $60 area, based on the technical levels cited in the source material.
The bearish scenario is more pronounced below the upper-$60s. CryptoPatel identified the $72-$76 area as a higher-timeframe bearish order block and argued that rejection there could expose HYPE to a 20%-30% decline toward the $53-$56 bullish order block. The analysis uses a close above $77 as its invalidation level.
That view provides an important counterpoint to the $89 breakout thesis. HYPE is approaching a technically significant area where both continuation and rejection scenarios remain plausible.
HYPE Burn Adds to Deflationary Narrative
Price action is not the only factor attracting attention to Hyperliquid. The token’s buyback-and-burn mechanism continues to form an important part of its fundamental narrative.
Hyperliquid routes a large portion of trading fees through its Assistance Fund, which uses fees to acquire HYPE. Tokens held by the fund are permanently removed from supply. Hyperliquid’s fee documentation and independent analyses describe the mechanism as a way for platform activity to translate into HYPE buybacks and supply reduction.
Hyperliquid burned 45.35K HYPE worth $3.35 million, supported by $4.25 million in daily gross fees. Source: @EricAgain_ via X
A recent market report cited cumulative HYPE burns of roughly 47.5 million tokens, equivalent to around 4.7% of the maximum supply. Separate institutional research has also highlighted the scale of the mechanism. Bitwise reported that about 42.2 million token had been recognized as burned by its June 2026 review, while CoinShares estimated roughly 44.4 million tokens had been bought back through the Assistance Fund by May.
The figures vary depending on the reporting date and methodology, but the underlying mechanism is consistent: trading activity generates fees, a large portion of those fees is used to acquire HYPE, and the acquired tokens are subsequently removed from circulation.
That creates a direct link between activity on Hyperliquid and the token’s supply dynamics. It does not, however, eliminate market risk. Buyback activity depends on protocol revenue and trading volumes, meaning weaker platform activity could reduce the amount of HYPE purchased.
Hyperliquid’s Growing Market Activity
Hyperliquid’s underlying trading platform has also expanded significantly. A May filing citing industry data reported more than $4.3 trillion in cumulative trading volume and more than $1.2 billion in cumulative fees by April 30, alongside about 1.2 million marketplace users.
Coinbase Institutional has similarly highlighted Hyperliquid’s expansion into additional asset classes and noted that eligible protocol fees are routed toward HYPE buybacks. It also cautioned that the token’s value-accrual model remains exposed to changes in fee mix, buyback conversion, and future token supply.
This distinction is important for the HYPE price prediction. A strong token chart alone does not establish a sustainable long-term trend. Continued trading activity, fee generation, and user adoption provide the underlying metrics that investors can monitor alongside technical indicators.
HYPE Price Prediction: Can Bulls Reach $89?
The immediate test for Hyperliquid price remains the $74-$77 resistance region. A sustained daily close above this zone would strengthen the breakout case and bring the $88.90-$89 area into focus.
Hyperliquid (HYPE) price chart. Source: Brave New Coin
The bullish setup would weaken if HYPE repeatedly fails to clear resistance and falls below nearby support. The $71-$69 region is particularly relevant because it sits around the support levels identified in recent technical analysis. A break beneath that zone could shift attention toward the $60 area and, in a more severe correction, the $53-$56 order block highlighted by CryptoPatel.
For now, the price remains caught between strong trend momentum and stretched short-term indicators. The token’s position above major moving averages and continued protocol-driven buybacks support the broader bullish structure, while elevated oscillators warn that another period of consolidation may be needed before the next major move.
A confirmed breakout above $77 would therefore be the clearest technical signal for the $89 HYPE price target. Until that happens, the $69-$77 range remains the key area to watch as traders assess whether Hyperliquid is preparing for another leg higher or simply cooling after its rapid August advance.
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