Hyperliquid Price Outlook: Can HYPE Hold Above $56.30?
HYPE Pulls Back After a 77.6% Q2 Rally
Hyperliquid (HYPE) closed Q2 with a gain of 77.6%. The current quarter is seeing a pullback, with the token retreating to its trendline.
Token Unlocks and Whale Selling Add Pressure
In recent news, crypto experts highlighted that nearly 10 mn HYPE tokens, worth about USD 550 mn were unlocked on August 6.
As a result, major investors (whales) could be preparing to sell. Analysts flagged that HyperLabs developers recently withdrew over 400,000 tokens from staking and distributed them across nine wallets—a potential sign of pending sales.
Revenue Declines, but Burns and Bitwise Offer Support
Hyperliquid’s revenue has been in decline, down roughly 50% y-o-y to July’s USD 43 mn from over USD 90 mn in July 2025.
Meanwhile, negative developments are partly offset by positive news.
Specifically, Bitwise started to buy the token, signaling institutional interest. Another positive is the ongoing token burn through transaction fees.
Experts note that around 47.62 mn tokens, which are worth an estimated USD 2.63 bn, have been burned.
HYPE Technical Analysis: $56.30 Is the Key Level
Technically, the token approached the 200-DMA, forming a local low at USD 51.15, near the trendline.
After bouncing off support, HYPE moved up to the 23.6% Fibonacci retracement level at USD 56.3 before moving back down. However, the bulls have already broken through USD 56.3.
At this stage, possible scenarios include:
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The bulls hold above the USD 56.30 resistance level, so a leg higher toward USD 59.40 could be in the cards.
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The token returns to a mark below USD 56.30 and moves toward the trendline (local support). Under this scenario, the token could re-test USD 52.50.
As the medium-term trend looks bullish, we see the first scenario as more likely.
