Hyperliquid Price Holds $44, as Revenue Hits Record $106 Million

Hyperliquid Price Holds $44, as Revenue Hits Record $106 Million

The post Hyperliquid Price Holds $44, as Revenue Hits Record $106 Million appeared first on Coinpedia Fintech News

Hyperliquid price is showing signs of short-term consolidation after a week of selling streak. The HYPE token is now trading at $44.59, with a negligible 0.2% daily gain but a while bearing a 10.65% weekly loss. Market cap now sits at $14.91 billion, while 24-hour trading volume has dropped nearly 18% to $204.66 million, hinting at reduced market participation.

The price action over the last 24 hours has ranged within a narrow band between $43.42 and $45.20, reflecting indecision among traders. However, the 30-day EMA at $44.04 indicates some mid-term stability. Wondering about what should be your next move with HYPE? Read this analysis for all details.

Hyperliquid Revenue Growth

Beyond price action, Hyperliquid’s fundamentals remain super robust. The trading platform hit a record revenue in August, generating $106 million in fees from nearly $400 billion in perpetual contract volume. This marks a 23% increase from July’s $86.6 million, highlighting Hyperliquid’s growing influence in decentralized derivatives trading. Successively, consistent fee growth could provide long-term support for HYPE’s valuation even amid short-term price volatility.

Source: Defillama

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Hyperliquid Price Analysis

HYPE’s current price of $44.39 is sitting near its 7-day SMA at $44.73 and just below the pivot point at $44.29. The MACD histogram at -0.196 and RSI-14 at 48.77 reflect weak buying momentum, suggesting that bears still have the upper hand.

The $42.40 level, aligned with the 38.2% Fibonacci retracement, is emerging as a critical support zone. A confirmed break below it could trigger accelerated selling toward the next major support at $35.42. On the upside, a close above $45.71 would nullify the bearish outlook and could stage a rebound toward $49.31, with a further stretch of the goal at $56.7.

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FAQs

How much can HYPE’s price drop in the short term?

Traders need to note that, $42.40 is the critical support zone. A break below could further accelerate selling pressure to $35.420.

What price invalidates the bearish setup?

A close above $45.71 would negate the bearish momentum and open upside targets.