Hyperliquid's HYPE token is showing renewed strength as institutional demand underpins its ongoing recovery. ETF-linked funds continue to hold or add exposure, while bullish momentum builds. A sustained breakout above key resistance could strengthen the uptrend, although renewed selling may instead keep the token consolidating.

At the time of writing, HYPE is trading at $59.19 with a 24-hour trading volume of $259 million and a market capitalization of $14.94 billion, according to CoinMarketCap. Following a 2.28% gain over the last 24 hours, the token's price structure and network growth point toward a bullish reversal ahead. The central question now is whether HYPE can convert this strength into a decisive reclaim of its nearest resistance.

For broader context, Hyperliquid is a Layer-1 blockchain purpose-built for on-chain trading, including perpetual futures that execute through a fully on-chain order book rather than an automated market maker. HYPE is the network's native token, introduced via a large-scale airdrop to early users in November 2024, and it now ranks among the larger crypto assets by market capitalization. Because activity on the platform settles on-chain, indicators such as network growth are publicly verifiable, which is why analysts frequently read them alongside price action.

Price Setup Points to a Bullish Move Toward $66

According to crypto analyst Umair Orakzai (X post), HYPE's price structure is set to make another attempt to fortify itself in response to the positive pressure exerted in recent sessions.

On Monday, the candle opened with minimal downside action, opening at $57.136 and touching a low of $57.052 before rising back up. The small size of the lower wick indicates that liquidity remains below that level.

The pivotal level sits at $60. A daily close above it could fuel a bullish move leading toward $66. Otherwise, a reversal from that resistance would preserve the possibility of renewed selling pressure. Below $55, the pattern could weaken, with traders looking for consolidation within the range defined by these two levels.

ETF Buying Boosts Hyperliquid's Recovery

Data from Arkham (X post) further highlights that Hyperliquid (HYPE) is delivering strong performance as ETF-driven demand continues to run positive.

Spot HYPE ETFs hold the underlying token directly, giving traditional investors exposure through standard brokerage accounts rather than self-custodied wallets. Since the arrival of spot Bitcoin and Ethereum ETFs, flows into such vehicles have become one of the most widely tracked demand signals in crypto markets, and HYPE's weekly fund flows are now watched through the same lens.

Not a single Hyperliquid ETF sold any HYPE last week, as all of the funds were either building on their HYPE holdings or holding them steady. Clients of Grayscale and Bitwise have spent around $2.8 million on HYPE recently.

HYPE has since recovered by more than 16% from the levels it reached over the weekend, indicating greater buying strength and improved sentiment. The focus now shifts to the coming week and whether the buying spree via ETF-linked funds continues for the token. If the trend holds, it could act as additional support for HYPE's recovery.

Following the bullish price predictions and ETF growth, HYPE is moving in an upward direction. The move is also supported by improving sentiment across the crypto market, as Bitcoin has started to climb again.

What Comes Next?

HYPE's future action relies on the token's ability to regain its key resistance level and keep buying pressure going. Continued accumulation through ETFs could bolster the bullish trend and aid the recovery. A rejection at resistance, however, might lead to consolidation instead.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.