HYPE is making a decisive push toward the $60 resistance level, reclaiming lost ground despite a worrying backdrop of persistent outflows from U.S. spot exchange-traded products. On August 4, the token traded around $55.60, up 8.2% from its recent low near $51, and briefly touched the upper boundary of a month-long descending channel.
Technical rebound within a compressed range
The 4-hour chart shows a breakout above the channel’s resistance and a reclaim of the $54.29 Supertrend level, accompanied by a Chaikin Money Flow reading of 0.15, indicating genuine buying pressure. On the daily timeframe, however, HYPE remains below key moving averages: the 50-day SMA at $57.28 and the 100-day SMA at $58.14 create a narrow resistance cluster that must be cleared. A daily close above $58.14 would open a path to $60 and the 200-day moving average near $63.13. Failure to hold above $54.30 could send the price back to $52.83 or even $51.
Thirteen sessions of ETF outflows
The recovery is unfolding without fresh institutional support. Data from SoSoValue shows that U.S. HYPE spot products recorded no positive net inflows from July 16 through August 3, spanning 13 trading sessions. Nine of those sessions saw outflows totaling approximately $29.76 million, with the largest single-day withdrawal of $8.78 million on July 29. While these flows do not directly dictate price action, they remove a potential cushion just as HYPE tests resistance.
Eole Inc. makes history with HYPE purchase
In a notable corporate development, Tokyo Stock Exchange-listed Eole Inc. disclosed a purchase of 1,078.25 HYPE on July 28 for ¥10.08 million (~$66,000). The company plans to raise its total allocation to ¥100 million (~$611,000) by the end of August, becoming the first publicly traded Japanese firm to add HYPE to its treasury. The move is part of Eole’s “Neo Crypto Bank” strategy, which envisions blockchain infrastructure enabling autonomous AI agents to conduct financial transactions. While the sum is modest compared to the ETF outflows, the symbolic weight of a listed entity embracing Hyperliquid adds a new dimension to the token’s demand narrative.
Liquidation clusters and outlook
One-week liquidation heatmaps show significant leveraged liquidity concentrated near $56.20–$56.40 and $56.80–$57.00. A move into these zones could trigger short-squeeze momentum, accelerating a push toward the daily moving averages. Downside liquidity sits at $53 and $50.50–$51. Analysts remain cautious, noting that while the recent bottom may have been marked by prediction-market trading, overhead supply and macro uncertainty still weigh on sentiment. HYPE’s immediate fate hinges on turning $54.30 into support and overcoming the $57.28–$58.14 band.
