Hyperliquid (HYPE) continues to attract strong bullish attention as momentum improves and buyers defend the token's recovery. Whale accumulation, staking activity, and growing institutional exposure are reinforcing market confidence, while favorable technical conditions suggest HYPE could extend its advance if current momentum holds.

Hyperliquid is the native token of a decentralized exchange best known for perpetual futures trading, and HYPE's rally has made it one of the most closely watched large-cap tokens in the current market cycle.

At the time of writing, HYPE is trading at $85.36, with a 24-hour trading volume of $793.73 million and a market capitalization of $21.47 billion, according to CoinMarketCap. The HYPE price has risen 1.36% over the last 24 hours.

HYPE Price Targets $105 After 240% Rally

Crypto analyst Hov revealed that Hyperliquid's HYPE token continues to draw bullish interest after a trading setup delivered strong gains across multiple entries. The initial $26 position has now reached a reported 240% gain, while a later entry near $55 is up more than 50%. The performance highlights persistent buying pressure and improving market momentum around HYPE.

With bullish momentum strengthening, traders are watching HYPE for a decisive breakout that could extend its current advance. A sustained move above key resistance may open the path toward the $105 target highlighted in the setup. However, after such a substantial rally, profit-taking and short-term volatility could emerge before another major move higher.

HYPE Technicals Point to Strong Recovery

According to TradingView chart analysis, HYPE displays a strong upward trend, trading at $85.66 (+1.46%) following a bottom near $50.00. The stacked exponential moving averages — the 20 EMA at 78.29, the 50 EMA at 70.24, the 100 EMA at 64.14, and the 200 EMA at 56.11 — maintain a clear, well-defined bullish sequence supporting near-term price movement.

Technical indicators also confirm the continued momentum. The MACD line stands at 6.07, just above the signal line of 6.06, with green positive histogram bars reading 0.0062. While momentum stabilizes around existing highs, the indicator shows continued buyer strength, with the price staying above all of its exponential moving averages.

HYPE Whale Makes Another $29M Purchase

On-chain analytics firm Lookonchain pointed out that the mystery whale known by the moniker "wallet 0x6436" has made yet another purchase of 343,000 HYPE tokens worth approximately $29.09 million. The purchase brings the whale's total holdings to a staggering 3.24 million HYPE tokens valued at roughly $252 million.

Notably, the whale has reportedly staked its entire HYPE position, indicating a long-term approach rather than an intent to sell. Staking ties the tokens to the network rather than leaving them available for immediate sale, which is why large staked positions are often read as a commitment signal. The scale of the accumulation has drawn widespread attention, as purchases of this size are read by many as strong conviction in HYPE.

HYPE's U.S. ETF Debut Signals a Bigger Shift

Data from Hyperliquid Daily further highlighted that HYPE has made its first appearance in a U.S. crypto ETF, now listed in the Nasdaq Crypto Index US ETF by Hashdex. HYPE has become the fund's fifth-largest holding, with a weight of 3.4%, following Bitcoin, Ethereum, XRP, and Solana.

The development marks a significant milestone for Hyperliquid as the project evolves beyond its origins as a decentralized perpetuals market. Inclusion in a U.S.-listed index ETF exposes HYPE to a broader pool of traditional investors who may not hold tokens directly on exchanges. A decrease in Bitcoin's index weight opened room for other assets to be included, and future HYPE allocations will depend on the growth and liquidity of the protocol itself.

What Happens Next?

The next direction for the HYPE price will be determined by whether buyers can hold their gains above important resistance levels. A breakout could pave the way toward $105, and continued whale accumulation alongside institutional buying may support further upside. That said, the risk of profit-taking after the rapid rally remains present.