Hyperliquid (HYPE) Hovers Near $75.47 With Bearish RSI Pointing to $65 Support

Volume Fades as HYPE Tests the $75 Line

Hyperliquid price action stayed pinned under $76 on Sunday, October 25, with the token changing hands near $75.47, up just 0.15% over 24 hours on $651.2 million in trading volume. The wider tape is weaker: HYPE sits 3.65% lower over seven days and 18.87% over the past month, giving back most of the September rally that carried the token toward $98. Intraday trading ranged between $74.53 and $76.82, so buyers and sellers are still contesting the $75 line after repeated failures to hold gains above $80. The daily chart has printed lower highs since the September peak, a structure that leaves sellers in control of the short-term trend. Derivatives activity suggests traders are positioned cautiously rather than chasing the dip. Crypto futures volume fell 15.16% to $1.40 billion, while open interest slipped 0.52% to $3.07 billion. Options volume jumped 93.84% to $2.11 million and options open interest reached $71.02 million, though that rise starts from a far smaller base and does not mean options demand has overtaken the perpetuals market. One positioning snapshot estimated that 78.1% of tracked futures accounts were long, up 3.2 percentage points from the previous day, a figure that covers only the positions and venues the provider tracks. Heavy long exposure leaves leveraged accounts vulnerable if prices slip far enough to force exits, because liquidation engines sell into the same decline that trips them. The momentum picture agrees with the sellers. The daily Relative Strength Index printed 34.29 against its moving average of 39.57, close to the oversold threshold of 30 without confirming that a recovery has begun. The Moving Average Convergence Divergence stayed negative, with the main line at -2.635 under the signal line at -2.039 and the histogram at -0.596, so downward momentum has not reversed. A daily close below $75 would put $70 in play, while a recovery above $80 would be the first constructive signal in weeks.

Exchange Outflows and a $1.36 Billion Buyback Record

Spot flows point the other way from the chart. CoinGlass data showed net HYPE outflows of roughly $2.47 million from centralized exchanges on October 25, and negative readings appeared repeatedly through September and October, including several days with withdrawals between $20 million and $30 million. Money leaving an exchange reduces the supply immediately available for trading, but withdrawals can represent transfers to private wallets, alternative venues or custodial accounts rather than confirmed purchases, so the flow record reads as a supply signal, not a demand guarantee. The outflows have not stopped HYPE from retreating from its September high near $98, and whale activity has continued in both directions, with large holders moving tokens between exchanges and wallets while institutional treasury purchases provide a separate demand stream. Hyperliquid's fee-funded buyback mechanism is the other fixed point in the structure. The protocol directs eligible trading fees to its Assistance Fund, which buys HYPE on the open market; by October 13 the fund had spent $1.36 billion repurchasing tokens and had accumulated more than 48 million HYPE, buying through periods of falling prices. Estimated protocol fees ran about $1.685 million over 24 hours and $54.3 million over 30 days, with the AQAv2 revenue mechanism routing another category of eligible income toward the same fund. Interest in HIP-3 markets, which let approved developers launch additional perpetual trading venues, adds possible fee sources over time. The analyst map around the current price is specific. HypedLaunches flagged 70-75 as weekly support, with Fibonacci retracement support at $65 near the 0.618 level and major resistance between $90 and $100, plus a 150-200 scenario only after a confirmed breakout above $100. Trader Aman warned separately that a developing head-and-shoulders pattern could expose HYPE to $50 if the $75 support fails, an interpretation rather than a confirmed breakdown.

@HypedLaunches · X post

Flagged 70-75 as weekly support.

View on X

The Long Squeeze Question

HYPE remains one of the most tracked names in the altcoin market, and our earlier analyst sentiment ranking placed it No. 1 among picks. The record here still points to a narrow decision band. Spot flow data shows supply leaving exchanges, and the Assistance Fund's repurchases, $1.36 billion by October 13, form a documented demand floor; neither stopped an 18.87% monthly slide, which means passive accumulation is being outrun by active selling. With 78.1% of tracked futures positioning long and open interest shrinking, the sharper risk is a long squeeze: a daily close below $75 would turn $70 and then $65 into levels leveraged accounts must defend, adding forced supply into thinning bids. A reclaim of $80 is the first neutral signal. Our Hyperliquid technical analysis tracks these levels live, and we have separately flagged one whale's $30.55M in shorts across five HYPE positions.