Hyperliquid has launched a policy center in Washington, D.C. to engage with U.S. regulators, appointing Jake Chervinsky as its CEO. The HYPE token, trading near $28.97, faces immediate technical resistance at $31.26 after a recent rally. Momentum indicators suggest cooling bullish sentiment, with key support levels being watched by traders.
The decentralized exchange Hyperliquid has launched a new policy center in Washington, D.C. to strengthen regulatory engagement on decentralized finance. Jake Chervinsky has been appointed as the center’s first chief executive officer, as stated in a public announcement.
“HPC is an independent research and advocacy organization dedicated to ensuring that DeFi can flourish in the United States,” Chervinsky said. The initiative focuses on shaping policy around decentralized perpetual futures and trading products.
The HYPE token is currently trading around $28.97 following a sharp price rally and subsequent pullback. This move comes after the token surged from approximately $21.60 toward a resistance level between $35 and $38.
On technical charts, immediate resistance sits at the 20-day moving average of $31.26. Key support is seen near the 100-day moving average at $27.79, with the Bollinger Bands indicating lower support at $27.94.
Momentum indicators show the bullish trend may be cooling. The Relative Strength Index (RSI) reads 47.53, suggesting weakening momentum after nearing overbought territory.
Meanwhile, the Moving Average Convergence Divergence (MACD) has produced a bearish crossover. Data from TradingView shows the histogram at -0.51199, indicating moderate selling pressure.
This technical activity points to a potential short-term correction. The long-term trajectory, however, remains intertwined with Hyperliquid’s evolving regulatory strategy.
