Hyperliquid (HYPE) is trading near $90.36 on Friday, with momentum turning bullish again after an October correction pulled the token well off its September highs, according to a report by Coinotag.

The recovery has carried the price back above its short- and medium-term moving averages, a shift the report describes as restoring a bullish tilt to the token's market structure. With the $85 level reclaimed, the report's headline points to $100 as the next breakout level in focus for HYPE.

Hyperliquid is a decentralized exchange specializing in perpetual futures that runs on its own Layer-1 blockchain, matching trades through an on-chain order book. Its native token, HYPE, was distributed to community users in November 2024 in one of the largest token airdrops on record, and the network has since broadened its ecosystem with the HyperEVM execution environment. The platform has ranked among the most active venues in decentralized derivatives trading, a standing that frames HYPE's price action as the token of one of the sector's core trading venues.

Technical indicators such as moving averages are retrospective measures of price behavior, and the levels cited in the report describe the token's recent market structure rather than guaranteed outcomes. Against that backdrop, the near-term reference points for readers are whether HYPE holds its position above the reclaimed $85 level and the moving averages now sitting beneath the price, with the report framing $100 as the level in focus for a potential breakout.

This content was first published on COINOTAG.