Hyperliquid (HYPE) Maintains Momentum Above $40 Amid Perpetuals Market Dominance and Technical Consolidation

• Hyperliquid (HYPE) sustains momentum above $40 after a remarkable 70% monthly rally, driven by its dominance in the perpetuals market and impressive on-chain revenue growth.

• Technical indicators reveal a cooling off from overbought conditions, suggesting consolidation while maintaining bullish potential.

• According to COINOTAG, Hyperliquid’s revenue generation places it just behind major stablecoin issuers, underscoring its rising prominence in the crypto ecosystem.

Hyperliquid’s HYPE token rallies 70%, dominating perps market with strong revenues and bullish technicals, eyeing $45 while managing downside risks.

Hyperliquid’s Perpetuals Market Dominance Fuels Revenue Surge

Hyperliquid has solidified its position as a powerhouse in the crypto perpetuals market, with its market share expanding from 63.7% in December 2024 to an impressive 76.9% as of June 2025. This substantial growth highlights the platform’s ability to attract and retain traders in a highly competitive environment.

Weekly trading volumes consistently range between $50 billion and $75 billion, vastly outpacing its nearest competitor, Jupiter, which records volumes between $4 billion and $7 billion. This volume disparity underscores Hyperliquid’s unparalleled liquidity and trader confidence in its perpetual contracts.

In terms of revenue, Hyperliquid generated nearly $65 million over the past 30 days, placing it just behind industry giants like Tether and Circle. It notably outperformed established protocols such as Tron, PancakeSwap, Axiom, and Pump, signaling robust business fundamentals and operational efficiency.

Within the last 24 hours, Hyperliquid accrued approximately $2.5 million in revenue, coinciding with its native token HYPE reaching new all-time highs. Despite some controversy surrounding trades by James Wynn, the token’s recent listing on Binance US has sparked speculation about potential listings on other major exchanges, including Binance itself.

HYPE’s Technical Indicators Signal Consolidation Amid Bullish Momentum

The Relative Strength Index (RSI) for HYPE has moderated to 67.27 from a recent peak of 77.63, indicating a retreat from overbought conditions but still reflecting strong buying interest. This level remains well above the neutral midpoint of 50, suggesting sustained bullish momentum despite a temporary cooling phase.

RSI is a critical momentum oscillator used to assess whether an asset is overbought or oversold. Values above 70 typically indicate overbought conditions, which can precede price corrections, while readings below 30 suggest oversold scenarios that may trigger rebounds.

Complementing the RSI, the BBTrend (Bollinger Band Trend) indicator for HYPE currently stands at -0.9, a significant improvement from -4.11 just one day prior. Although still negative, this value points to a phase of consolidation rather than outright weakness, with potential for renewed upward momentum.

The BBTrend’s gradual recovery suggests that while the price is stabilizing, traders should watch for confirmation of a breakout or a deeper pullback. Together, these indicators imply that HYPE is in a healthy consolidation phase following its rapid ascent.

Price Outlook: Bulls Target $45 While Defining Clear Support Levels

HYPE’s price action remains firmly above the $40 support level, bolstered by a favorable Exponential Moving Average (EMA) alignment where short-term EMAs are positioned above long-term EMAs. This technical setup typically signals a sustained bullish trend and continued buyer dominance.

As long as this EMA structure holds, the path toward the next resistance zone near $45 appears viable. Traders should monitor volume and momentum indicators closely to confirm the strength of any upward move.

Conversely, a breach below the $38.2 support level could expose HYPE to a correction toward $32.62. Should selling pressure intensify and this secondary support fail, the token may test lows near $30.64, marking a significant retracement from recent highs.

Conclusion

Hyperliquid’s recent performance underscores its growing influence within the crypto perpetuals market, supported by robust trading volumes and impressive revenue figures. Technical indicators suggest a temporary consolidation phase for HYPE, with bullish momentum intact but tempered by caution near overbought levels.

Investors and traders should watch key support and resistance levels closely, as the token’s trajectory toward $45 hinges on maintaining current bullish structures. Overall, Hyperliquid remains a compelling asset in the evolving crypto landscape, combining strong fundamentals with promising technical setups.