• HYPE faces a mild daily dip but maintains strong weekly momentum.
• Market participation rises with higher trading volume and solid liquidity.
• Chart structure depends on support at $33.78 and key resistance around $41.70.
• Weekly unlocks show strong holder confidence through prompt restaking.

Hyperliquid (Hype) is moving through an unstable price phase, showing a mild pullback despite earlier momentum. In the past 24 hours, the token slipped by 1.52%. Its weekly performance remains solid, rising 6.94%. This signals renewed trader confidence and steady market interest.

Currently, the token is trading at $35.36, backed by a 24-hour trading volume of $376.89 million, up 26.72%. Its market cap has climbed to $11.89 billion, reflecting a 1.81% increase. These numbers show that, despite a small daily dip, liquidity and market participation around the token remain intact.

Also Read: 3 Signs of XRP Spot ETF Hype Is Growing Ahead of SEC Decision

Critical Chart Levels Shape the Next Major Move

HYPE’s sweep above $36.53 came with rising volume, confirming genuine liquidity rather than a fakeout. This pullback is healthy as long as the price respects the key support at $33.78. A successful retest there forms a higher low and sets up a continuation move. If the support holds, the next target becomes $40.26–$41.70, where the 50SMA and 200SMA converge.

The zone between $40 and $42 is a key decision point. A clean break at this level will indicate distribution according to Wyckoff analysis and convert the sweep into a supply absorption pattern. A break at this level will probably cause the token to move towards the mid-$20s range, with emphasis on the $25 to $27 level of demand.

According to the crypto analyst @Umairorkz, if the token decisively reclaims $41.70 with expanding volume, the chart shifts into accumulation. By breaking through this SMA group, there comes access is gained to $50, which was the nearby major level of supply. By breaking this level, access is gained to inefficient upper range zones, and thus the token enters a position to retest the $70 ATH level due to the Wyckoff Sign of Strength.

HYPE Weekly Unlocks Strengthen Market Stability

The weekly unlocks of Hyperliquid began today, releasing the first batch of 2.6 million HYPE tokens that were unstaked. Although the number of tokens was considerable, only one HYPE token sale was recorded. Most of these holders restaked their tokens shortly thereafter.

From the unlocked supply, around 854,000 HYPE seems linked to @chameleon_jeff,  which started restaking immediately. The rapid restaking trend shows that holders firmly believe in their assets, as it happens at the start of the weekly unlocking period. It also prevents sell pressure at this stage, due to the market stability provided to the token.

Also Read: Hyperliquid Strengthens Onchain Trading Infrastructure With HIP-3 Rollouts