Hyperliquid remained above $60 on Monday after surging 7% a day earlier and reaching a fresh all-time high of $64.48. Institutional appetite for the DEX token continues to strengthen, with inflows climbing to $72 million last week. Ongoing buybacks and resilient retail interest are also helping sustain the rally and support further price discovery.
Hyperliquid (HYPE) reached a new all-time high on Monday, supported by strong buying interest from both institutional and retail investors in the decentralized exchange (DEX) sector. The token’s revenue-based buyback mechanism is also helping sustain momentum as HYPE enters price discovery territory. From a technical perspective, the trend remains bullish, with analysts eyeing a possible move toward $80.
Several positive catalysts continue to support HYPE’s upward momentum.
Despite broader market volatility, Hyperliquid’s growth has been fueled by its evolution into an all-in-one exchange platform that provides access to cryptocurrencies, real-world commodities, and prediction markets.
Recent data also shows that HYPE-related ETFs launched by 21Shares and Bitwise attracted $72.38 million in inflows last week, following $2.52 million the week before. Rising institutional participation often strengthens retail interest and can contribute to higher spot prices.
Data from CoinGlass points to increasing retail participation, as HYPE futures Open Interest (OI) climbed to a record $2.95 billion on Monday. This suggests traders are building larger positions, pushing the total notional value of outstanding contracts to new highs.
Meanwhile, Hyperliquid continues to support token demand through its aggressive buyback model. The platform allocates around 97% to 99% of trading fee revenue toward repurchasing HYPE tokens, which are then stored in its assistance fund. According to Hyperscreener data, approximately 210,000 HYPE tokens were bought back last week alone, effectively reducing circulating supply.
The assistance fund currently holds 44.52 million HYPE tokens, including a cumulative total of 26.81 million tokens acquired through buybacks.
Will Hyperliquid reach $80?
HYPE is currently trading at a new all-time high and remains in a strong bullish trend. The token is holding well above its key Exponential Moving Averages (EMAs), including the 50-day EMA at $45.07, the 100-day EMA at $40.98, and the 200-day EMA at $37.87. It also broke convincingly above the previous swing high of $59.45 after gaining 7% on Sunday, reinforcing bullish momentum.
Technical indicators continue to favor further upside:
- The Relative Strength Index (RSI) is around 75 on the daily chart, signaling overbought conditions. While this can increase the chance of short-term pullbacks, it also reflects strong buying pressure.
- The Moving Average Convergence Divergence (MACD) indicator remains positive, with the MACD and signal lines continuing higher, suggesting momentum is still firmly bullish in the near term.
Based on Fibonacci extension analysis, the next major resistance zones are:
- 127.2% extension near $70.04
- 161.8% extension near $83.51
That places the $80 level within the projected bullish range if momentum and buying activity continue. However, because RSI is already elevated, traders may still see periods of consolidation or profit-taking before another leg higher.
On the downside, the former resistance level at $59.45 has now turned into the nearest support zone and could act as the first layer of defense against selling pressure. Below that, the psychologically important $50.00 level may provide stronger support if the market experiences a deeper correction or extended pullback for Hyperliquid.
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