Hyperliquid (HYPE) is testing key resistance near $60 after breaking its long-term uptrend, with analysts watching for a bullish breakout or a deeper correction. The recovery has come on lower trading volume. Japan-listed Eole Inc. has become the first publicly traded Japanese company to add HYPE to its treasury, purchasing roughly 1,078 tokens for about $66,000 and planning to scale the position to $611,000.
Hyperliquid (HYPE) is testing a key resistance level after breaking its long-term uptrend, with analysts watching for either a renewed bullish breakout or a deeper correction. At the time of writing, HYPE is trading at $56.16 with a 24-hour volume of $328.69 million and a market capitalization of $14.17 billion.
According to analyst Umair Orakzai, the HYPE price is approaching a crucial technical test after breaking below a long-standing ascending trendline that fueled its rally from nearly $20 to around $80. The breakdown ended its bullish market structure, suggesting momentum has weakened.
Following the decline, the HYPE price is showing signs of recovery by testing the level that used to be support but is now turning into potential resistance. This rise is occurring with decreasing volumes, indicating a lack of buying pressure.
Failure at this level might result in a further drop, while rising above $60 will invalidate the bears’ case. Data from Hyperliquid Daily highlights that Tokyo Stock Exchange Growth Market-listed Eole Inc. has become the first publicly listed Japanese company to acquire HYPE.
The company spent roughly ¥10.1 million ($66,000) purchasing around 1,078 HYPE tokens at the end of July. Eole plans to increase its investment in HYPE tokens to ¥100 million ($611,000).
According to Eole, this investment forms the backbone of the company’s long-term “Neo Crypto Bank” concept, which involves incorporating blockchain technology into future financial services. Eole sees the ultrafast nature of Hyperliquid’s network as the perfect fit for AI-powered trading, automatic transactions, and autonomous financial actions, in addition to its existing Bitcoin holdings.
