Hyperliquid (HYPE) is gaining market attention as traders watch for a potential pullback before another bullish move. Rising activity, whale accumulation, and Hyperliquid’s expanding derivatives presence are strengthening the broader outlook while keeping traders focused on the token’s next major move.
HYPE Price Setup Points to a Breakout Toward $130
Hyperliquid’s HYPE token is showing stronger market activity as traders assess whether its latest momentum can support another major upside move.
Market watcher More Crypto Online suggested that HYPE could be starting a pullback from current levels before potentially resuming its broader advance toward the $130 mark.
Source: More Crypto Online’s X Post
The outlook suggests that a near-term correction would not necessarily invalidate the broader bullish structure.
Instead, a pullback could allow HYPE to consolidate after its recent strength before buyers attempt another sustained move higher. However, the $130 projection remains an analyst expectation rather than a guaranteed price target.
Also Read: Hyperliquid Price Holds $78 as HYPE Burn Removes $2.65M Supply
Trading Volume Surges as Market Activity Accelerates
According to CoinGlass data, HYPE’s 24-hour trading volume has surged 115.03% to approximately $2.19 billion. The sharp increase indicates that market participation has expanded considerably, giving traders more liquidity as the token approaches an important phase in its current price structure.
Source: Coinglass
However, the open interest of HYPE has also risen by 0.21% to about $2.95 billion. The fairly steady open interest along with the increasing volume indicates that the trading activities are still high.
This means that traders are keeping their positions open amid increasing market activities in the Hyperliquid ecosystem.
Whale Accumulation Adds to HYPE Demand
In addition, crypto analyst Ted noted that there has been a substantial accumulation happening in the market, especially among one large HYPE investor.
This is because he has noted that one whale investor has accumulated about $27.5 million worth of HYPE within the last two weeks.
Source: Ted’s X Post
Whales can create interest because massive buys may signal the buyers’ belief that their chosen assets have a bright future ahead of them.
This, however, does not necessarily mean the asset will appreciate in the future, especially if the general market falls into another correction. The same will be expected of HYPE.
Hyperliquid Challenges Major Exchanges in Open Interest
The data presented by crypto analyst Vikingo shows that another milestone is about to be achieved by Hyperliquid. In the words of the crypto analyst, it can now be noted that Hyperliquid has managed to overtake OKX in terms of open interest for the first time.
Source: Vikingo’s X Post
The platform also reportedly saw a record-high figure with 12.3% of the total open interest. The rise in figures means that Hyperliquid is gaining traction in the derivatives space, with users using the platform for trading more frequently. It may further build on the HYPE ecosystem story.
Bitget and Binance Become the Next Targets
The other prediction by Vikingo was that Bitget and Binance will be the next big exchanges in the expansion strategy for Hyperliquid. Overcoming other centralized exchanges in terms of open interest will help to establish itself in the global derivatives ecosystem and raise awareness for the platform’s HYPE token.
What Happens Next for HYPE?
For the holders of HYPE, the perfect scenario would be one with high-volume trades, strong open interest, whales buying, and increased derivative participation by Hyperliquid. The immediate direction of prices is not certain, but for More Crypto Online to hit their $130 target, HYPE has to overcome an eventual correction.
This means that there are two opposing forces at work in the wider framework. Increased involvement and whales can help demand build up, while the expected retreat may put some pressure on the price action momentum for a short while.
Traders will be paying close attention to derivatives position and volume as the trigger for the new direction of price movement.
Overall, HYPE is facing a crucial moment, considering the growing participation in the market and increasing popularity of Hyperliquid in derivatives markets.
The increase in the share of open interest can provide fundamental support for the token, yet the potential retracement mentioned by More Crypto Online should be considered before the token approaches $130.
Also Read: HYPE Price Eyes $90 Breakout as Hyperliquid Advances Its U.S. Regulatory Push
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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