The Hyperliquid (HYPE) token stabilized above $30, driven by returning derivatives liquidity and market chatter regarding a potential Kraken listing. While technical charts show a recovery from recent lows, analysts note the asset remains within a larger corrective pattern as it faces overhead resistance.
The Hyperliquid (HYPE) token has reclaimed attention by holding above the $30 level this week. Market commentator Erick Crypto highlighted this stabilization, attributing it to renewed derivatives liquidity and speculation about an exchange listing. Concurrently, Bitcoin’s perpetual market flows have improved alongside capital moving into gold and silver strategies.
This activity suggests the market is in a critical transition phase.
On higher timeframes, the HYPE/USDT pair appears to be repeating a cycle that began in mid-2025. The price initially peaked between $55 and $60 before a deep pullback to a $22–$25 support zone.
A rebound formed a second arc but failed to make a higher high, indicating weakening buying pressure.
The asset remains in a wide range, with buying near lows and selling near highs. “A strong close below $22 would break this cycle and indicate further weakness,” according to the analysis.
The daily HYPE/USD chart shows recovery without a confirmed reversal. TradingView data from January 29 indicates the market is still forming lower highs and lower lows, despite a rebound from the $20–$22 demand zone.
The price is currently ranging between $28 and $34, below significant overhead resistance.
Technical indicators reflect this constrained movement. The RSI reading of approximately 63.9 shows buyers are active, while a positive MACD suggests short-term improvement.
For a sustainable trend change, the price must hold above the $34–$36 region.
