Hyperliquid (HYPE) shows strong bullish sentiment amid market volatility

Hyperliquid (HYPE) has emerged as a leading cryptocurrency in terms of analyst sentiment, according to data from CryptoQuant. Despite broader market selling pressure, HYPE holds a high bullish sentiment score, outperforming other major assets such as BNB, Solana, Bitcoin, and Ethereum.

The bullish outlook is driven by Hyperliquid’s protocol revenue and its fee-driven buyback program. The decentralized exchange, which focuses on perpetual futures, directs trading fees to an Assistance Fund that purchases HYPE on the open market. Reports indicate the program had accumulated approximately $1.26 billion in buybacks by October 2026, supplemented by earnings from USDC reserves.

Technically, HYPE is currently trading near a key support confluence at $76, involving the 200-day simple moving average and a falling wedge pattern. Analysts suggest that maintaining this level is critical for a potential recovery toward the $97 resistance mark, with some long-term price targets ranging between $100 and $120.