HYPE price is showing renewed strength after reacting from the $76 support area, with the token now trading close to its previous all-time high. The recovery comes as Hyperliquid expands its lending infrastructure and on-chain data shows fresh HYPE purchases from major asset managers. These developments could influence the next phase of HYPE’s price action.
HYPE Tests Key Resistance
Crypto analyst Bitcoin Meraklisi recently highlighted the reaction around the $76 support level, suggesting that HYPE could continue higher if broader market conditions remain supportive.
The $76 area has become a key reference point after HYPE declined toward that level earlier this week. Historical market data shows HYPE traded as low as roughly $75.2 on September 15 before recovering sharply. It then closed at $85.18 on September 17, showing a strong rebound from the support region.
Source: Analyst Bitcoin Meraklisi X post
HYPE is now trading near its previous record high of around $89.60. Market data shows the token has gained strongly over the past 24 hours, bringing the previous high back into focus as the next major technical area.
A sustained move above that zone would put HYPE into price-discovery territory, while a rejection could bring the recent support levels back into focus.
Hyperliquid Lending Adds New Utility
Hyperliquid has also introduced manual borrowing, adding a new lending function to its existing HyperCore infrastructure. The feature allows users to supply HYPE or Bitcoin as collateral and borrow quote assets, including USDC and USDT.
According to Hyperliquid, portfolio margin and manual borrowing both operate using the same underlying HyperCore technology. The assets borrowed via this new system amounted to $269 million on its first day of operation.
Source: Hyperliquid
The launch brings yet another application to HYPE in the Hyperliquid ecosystem. HYPE tokens can be used as collateral while quote tokens borrowed and supplied generate interest. The borrowing and supplying rates depend on utilization.
This is a link established between the market value of HYPE and the activity on the finance platform of Hyperliquid. Higher usage of HYPE as collateral may boost demand for it; however, higher borrowing activity does not necessarily imply a price hike for the token.
Also Read: HYPE Price Eyes $110 as Support Holds Amid Rising TVL and Market Activity
On-Chain Data Shows Fresh HYPE Buying
The other factor that affects the price prediction for HYPE includes wallet activity. According to the statistics shared by Arkham, 21Shares has purchased about $2.4 million worth of HYPE, which is the first time it has purchased since 20 days ago. Bitwise has also bought around $1.9 million worth of HYPE.
Source: Arkham
These purchases add context to the latest strong price performance, in that they are indicative of new exposure by institutional portfolio managers in light of the current levels of HYPE.
Furthermore, the timing is also relevant. The recovery of HYPE from the $76 level had already happened prior to these wallet purchases, and the token moved towards the all-time high after these purchases.
However, the wallets’ activity should be seen only as a portion of the market situation. The purchases alone do not tell anything about the future of HYPE, either growth or decline.
What Does the HYPE Price Prediction Show?
Technically speaking, the $76 area still serves as a key support level in light of the current rally. The following significant area would be the $89.60-$90 area, which relates to the prior all-time high and $90 psychological level.
A decisive breakout from this level would signal the formation of a new price discovery stage for HYPE. On the flip side, a breakdown from this rally might subject the token to another round of tests on lower support areas.
As a result, the current price formation makes two price levels highly significant: $76 for the lower end and around $89.60 to $90 for the higher one.
Furthermore, the market environment is also relevant at the moment of writing. The approach of the cryptocurrency HYPE to its all-time high is accompanied by a growing volume of trades, which means that the market remains highly volatile.
What Happens Next for HYPE?
The HYPE price outlook at this point is strongly dependent on the success of the token’s ability to make a move higher above the previous all-time high following the bounce back from $76. Hyperliquid has introduced borrowing capabilities that will provide some extra value for HYPE tokens, whereas purchases by 21Shares and Bitwise are on-chain.
For the traders, the $76 support level and the $89.60-$90 resistance levels are still crucial points to look out for. Breaking above the higher resistance will mark a shift in the market structure, but a failure may mean that the previous support level is in play again.
The combination of technical structure, increasing Hyperliquid finances, and new wallet actions is making the price action of HYPE important to pay attention to.
Also Read: Payward Expands On-Chain Trading With Hyperliquid US Perpetual Futures
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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