Hyperliquid's HYPE token sees support as $97 million whale position builds

Hyperliquid’s HYPE token has held a crucial support zone near $71.25, with former resistance around $67‑68 now acting as a price floor. Technical indicators such as the RSI (55‑60), MACD stabilization and a weekly buy signal point to continued bullish momentum, and analysts cite a $76.99 target with upside potential toward $100. The token commands roughly 68.4% of decentralized perpetual futures trading volume and benefits from a substantial buy‑back program that funds fee‑derived token purchases.

Blockchain analytics firm Arkham identified a trader known as “watershedpath” who now holds the largest on‑chain leveraged long in HYPE, valued at about $97 million and showing an unrealized profit of $43.3 million. The disclosure underscores growing institutional‑style participation in Hyperliquid’s decentralized derivatives platform, where transparent, on‑chain positions can sway market sentiment and volatility.