What to know:
- HYPE retests the $55–$60 support zone, with bulls defending a key breakout level that may set the next trend direction.
- HYPE remains bullish despite an 8% drop, with upside potential toward recent highs and a breakout above $76.
- Hyperliquid leads DeFi revenue with $62.59M in 30 days, driven by strong perpetual trading demand.
Hyperliquid (HYPE) is retesting a key breakout zone, with support acting as a stability check; holding could drive HYPE price breakout toward recent highs, while breakdown may lead to consolidation. Hyperliquid remains the top DeFi revenue generator, reflecting strong demand and growing on-chain trading adoption.
At the time of writing, HYPE is trading at $62.83 with a 24-hour trading volume of $674.1 million and a market capitalization of $15.91 billion. Despite the 8.23% loss over the last 24 hours, the HYPE price structure and network growth point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: HYPE Price Holds Strong Above Support as Analysts Eye a Move to $76
HYPE Price Eyes New ATH After Key Support Test
According to the crypto analyst Crypto Spaces, the HYPE price is now retesting its previous breakout zone after a strong upward rally, a key technical area that often determines whether momentum continues or stalls.
The $55–$60 support range is crucial, as holding above it keeps the broader bullish uptrend for the HYPE price firmly intact. This zone is now acting as a stability test for recent momentum.
Source: Crypto Spaces’ X Post
If buyers are able to hold the support levels, the the HYPE price can continue its rise and test the June highs for resistance levels.
Breaking those levels would open up avenues for further price discovery to take place and move towards a higher high level above $76. Otherwise, failure at the support could lead to consolidation for the HYPE price.
Hyperliquid Tops DeFi Revenue with $62.59 Million
The data from MSB Intel further highlighted that Hyperliquid has quickly risen to dominate the decentralized finance earnings charts, earning a total of $62.59 million within just the last 30 days.
This comes as no surprise due to the growing need for the superior perpetual trading platform, which is powered by higher market volatility and higher trading volume.
Source: MSB Intel’s X Post
This accomplishment represents increased usage of decentralized derivatives exchanges as users gravitate towards non-custodial exchanges. By matching centralized exchanges’ pace of transactions and efficiencies, Hyperliquid has secured its standing within the trading ecosystem of DeFi.
The analysts have attributed the jump in revenues to the maturation of on-chain markets, although sustained growth depends on future trading volumes.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Hyperliquid’s HYPE Price Builds Momentum Near $70 As Bulls Target Higher Levels
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