HYPE Price Eyes $66 as Hyperliquid Activity Rises
Key Takeaways
- •HYPE is trading at $55.68, gaining 2.47% over the past 24 hours while recovering from the $53 to $54 range.
- •Hyperliquid recorded $218 billion in perpetual trading volume in July, surpassing the combined total of the next seven perpetual DEXs.
- •Open interest on Hyperliquid declined from $2.9 billion in early July to approximately $2.3 billion, indicating reduced market leverage.
- •HIP-3 real-world asset open interest on Hyperliquid has exceeded $4 billion, reflecting growing demand for decentralized real-world asset trading.
- •The $66.83 level serves as HYPE's primary resistance, while the 200-period EMA at $51.32 acts as a critical support level.
HYPE price recovery is being supported by increased activity on Hyperliquid, the layer-1 blockchain and decentralized perpetual exchange, even as open interest on the derivatives exchange continues to decline.
The token, which serves as the native asset of the Hyperliquid ecosystem, is currently trading at $55.68, up 2.47% over the past 24 hours. That move has coincided with strong perpetual trading activity on Hyperliquid, which has been gaining attention as on-chain derivatives venues capture a larger share of volume traditionally dominated by centralized exchanges.
Also Read: Hyperliquid Price Forecast: HYPE Reclaims Support With $57 Target in Sight
Why HYPE Price Is Bouncing Back?
HYPE has recovered from lows in the $53 to $54 range on the daily chart. The rebound has brought the token closer to short-term moving average levels, although buyers have not yet managed to force a breakout.
According to the TradingView chart, HYPE is trading below the 20-period EMA at $56.05, the 100-period EMA at $56.64, and the 50-period EMA at $58.43. At the same time, it remains above the 200-period EMA at $51.32.
That leaves the short-term technical picture cautious, while the 200-period EMA continues to serve as an important support level.
Also Read: Hyperliquid Price Targets $75 Rally as HIP-3 Fuels Real-World Asset Demand
Can HYPE Break the $66 Level?
The $66.83 level is the main resistance zone. A sustained breakout above that area would strengthen the case for a broader turnaround and shift attention to higher levels previously seen on the chart. For now, HYPE remains trapped in a consolidation range.
Effect of Hyperliquid Trading Volume on HYPE Price
Hyperliquid Daily reported that the platform recorded $218 billion in perpetual volume in July, more than the combined volume of the next seven leading perpetual DEXs. The post also said HIP-3 RWA open interest surpassed $4 billion. HIP-3 is a Hyperliquid Improvement Proposal designed to expand the platform's support for real-world asset trading, a segment that has drawn growing interest across decentralized finance.
The account added, “While CEX activity is shrinking, Hyperliquid is still growing.” That expansion in platform activity may remain a key factor for the HYPE ecosystem.
Is Hyperliquid Taking Market Share From CEXs? CEX futures volume just hit its lowest level since December 2023. According to @CryptoRank_io, total CEX futures volume fell to $4.0T in July, down sharply from the $10T+ peaks seen in late 2025. While CEX activity is shrinking,… pic.twitter.com/jcFkZy4wh4 — Hyperliquid Daily (@HYPERDailyTK) August 12, 2026
What Should HYPE Price Traders Watch Next?
According to Coinglass data, Hyperliquid open interest has dropped from $2.9 billion in early July to about $2.3 billion, indicating less leverage in the market despite the current price recovery.
A move above $58.43 would improve the short-term technical outlook, while a drop below $51.32 would weaken the broader setup.
Given the volatility of cryptocurrency markets, traders should monitor price action, sentiment, and upcoming events before making decisions.
Also Read: HYPE Price Eyeing $66 As $11.17 Million Buy Triggers August Bounce
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
