TLDR:
- HYPE price faces immediate downside pressure near $55, with a $14.2 million liquidation cluster creating significant risk around the $52.38 support level.
- Analysts identify targets ranging from $50 to the high $40s, while Ryker presents a more bearish scenario involving a possible decline toward $32.
- Hyperliquid generated about $169 million in quarterly protocol revenue and directed roughly $141 million toward systematic HYPE token buybacks.
- HIP-3 real-world asset perpetuals produced $213 billion in quarterly volume, increasing their platform share from 1.8% to 32.2% within two quarters.
HYPE price faces growing short-term pressure as the token trades near $55.50 after losing about 22% over the past month. Several analysts now warn that lower support zones may come into play if sellers keep control.
Ali Martinez points to a TD Sequential sell signal and sees $50 as a possible target. Altcoin Sherpa expects the token could revisit the low $50s or high $40s before finding a durable bottom.
Market analyst Ryker presents a deeper downside case near $32. Even so, oversold momentum, buybacks, token burns, and strong platform activity support the longer-term Hyperliquid outlook. Support continues during the latest session.
HYPE Price Risks Rise Near the $52 Liquidation Cluster
The HYPE price currently sits close to a dense liquidation zone around $52.38. Data shows about $14.2 million in leveraged long positions could face liquidation near that level. That risk may increase defensive selling as traders reduce exposure before a possible support break.
The $55 region acts as an important short-term order block. Holding that area could allow the token to stabilize and retest $60. A stronger rebound may then target $64, according to Martinez. He also sees $75 as possible if buyers defend support and reclaim higher resistance. Its market value stood near $14.09 billion at the time of writing.
However, several traders remain cautious. BATMAN says the recent liquidity sweep may have formed a local top. Altcoin Sherpa also expects more downside before a cycle bottom develops. His near-term range includes the low $50s and high $40s.
Ryker offers the most bearish forecast. The trader expects the HYPE price could fall toward $32 if market weakness deepens. That move would require a larger breakdown across support zones and heavier capital rotation toward Bitcoin.
Momentum data also gives buyers one possible advantage. The Relative Strength Index has dropped below 30, placing HYPE in oversold territory. Oversold readings do not guarantee a rebound, but they often precede short relief rallies.
HYPE Price Weakens Despite Strong Hyperliquid Activity
Hyperliquid reported strong second-quarter activity even as the HYPE price moved lower. HIP-3 real-world asset perpetuals reached 32.2% of total platform volume. That share stood at only 1.8% two quarters earlier. During that quarter, HYPE gained 79%, while Bitcoin declined 14%.
The RWA segment generated about $213 billion in quarterly trading volume. Three HYPE exchange-traded funds also began trading during the quarter. Funds and treasury vehicles held around 7.7% of the token supply.
Protocol revenue reached roughly $169 million during the quarter. Hyperliquid directed about $141 million toward token buybacks. On-chain data also showed a recent burn worth about $1.28 million.
Cumulative burns now total 47.53 million HYPE, valued near $2.68 billion. That figure equals about 4.75% of the token’s maximum one-billion supply. Continued burns reduce available supply, though price still depends on demand and leverage conditions.
Derivatives activity has slowed during the latest decline. Trading volume fell 16.5% to $1.68 billion, while open interest dropped 4.98% to $2.27 billion. Options volume also eased to $1.67 million. Lower volume may amplify sudden price moves.
Positioning still shows notable long exposure. Binance posted a long-to-short account ratio of 1.2437, while OKX recorded 1.45. The overall long-to-short ratio stood at 0.9798, indicating nearly balanced positioning across tracked exchanges.
Long liquidations reached about $793,450, compared with $374,650 in short liquidations. Total liquidations reached about $1.17 million, showing that long traders absorbed most forced closures.
Open interest has declined from more than $3.5 billion in early June. It now sits near $2.3 billion as HYPE trades below its $76.90 record. A break under $52.38 could accelerate liquidations, while a recovery above $55 may open another move toward $64.
