A major whale has significantly increased exposure to Hyperliquid (HYPE) by deploying $4.1 million into a 5x long position, reinforcing buyer confidence as the token tests critical support levels. At press time, HYPE was trading around $31.24, having dipped into the $30–$33 demand zone that historically triggers rebounds.
Technical analysis from trader Lucky indicates HYPE is hovering beneath a descending trendline, with a breakout above $36–$38 potentially restarting the uptrend. Analyst Nigma emphasizes support at $27.12 and $22.10, noting that holding above $27 could propel prices toward $37 or higher, given limited resistance until the $40s.
Market data from Binance reveals long accounts dominate at 60.61% with a long-short ratio of 1.54, while Open Interest rose 3.46% to $1.58 billion, indicating heightened speculation. The RSI near 33 signals oversold conditions, and liquidation heatmaps show dense pockets below $32, raising the likelihood of volatile sweeps or rebounds.
