Hyperliquid (HYPE) Stalls Near $84 After 50% Monthly Rally

Momentum Cools After a 50% Monthly Run

Hyperliquid (HYPE), the token behind the largest perpetuals venue in decentralized finance, is losing short-term upside steam after rallying more than 50% over the past month. The token dropped roughly 4% in its most recent session, dipping toward the $80 area before buyers stepped back in — live pricing now puts HYPE at $84.28, up 4.91% on the day. Institutional demand has not wavered even as retail heat fades: the HYPE exchange-traded product absorbed net inflows on all five trading sessions last week, totaling $56.86 million, lifting August's cumulative net intake to $66.33 million. Derivatives activity tells the opposite story. Futures open interest fell 5% in 24 hours to $3.27 billion, and liquidations over the same window reached $3.98 million, of which $3.43 million came from leveraged longs. Weighted funding stayed positive at 0.0085%, so the long bias persists despite the deleveraging. Network fundamentals remain strong even as they moderate — the protocol processed $61.93 billion in trading volume and generated $16.45 million in revenue last week, down from $88.68 billion and $21.27 million respectively the week prior. On the chart, HYPE trades well above every major trend measure, with the 50-day EMA at $66.94, the 100-day at $61.93 and the 200-day at $54.61. The RSI has cooled from overbought levels to 64, and the MACD is converging toward its signal line. Traders flag $83.93 — the 127.2% Fibonacci extension of the earlier $76.93-to-$51.20 decline — as the key ceiling, with $92.83, the 161.8% extension, as the next objective if it breaks. First support sits at $76.93, then $71.42.

Road to $100

The bigger picture frames this pullback as a pause inside one of HYPE's strongest rallies in months. The asset traded below $60 in mid-August before climbing more than 40% to set a fresh local high, briefly tagging roughly $87 before retreating to the low-$80s earlier in the session. The psychological support and resistance map now puts the $85–$87 band as the first barrier — selling pressure has already printed multiple upper wicks there, delaying the last breakout attempt. A daily close above $87 would clear the path toward $90 as the next psychological hurdle, with $100 the eventual triple-digit target some 24% above the recent range lows. Momentum, though, is the short-term question. The RSI pushed above 70 before easing back to about 65 — a healthy cooldown rather than a collapse, but one that signals the initial breakout impulse is weakening. Volume tells the same story: turnover expanded sharply as HYPE broke through $60–$70, then progressively thinned as price chopped between $80 and $85. Any renewed push above $87 would need fresh volume behind it to confirm. Downside, meanwhile, is cushioned first by the $78–$80 support shelf, and deeper by the rising 20-day EMA near $71.67 — a level a corrective move could test without invalidating the broader uptrend structure. Readers tracking the market in real time can follow live spot and futures prices on Bitget.

$86.80 Resistance in Focus

COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the $86.80 resistance at 77/100 (STRONG), driven by the confluence of the Fibonacci 0.000, Donchian Upper, Swing High and Keltner Upper sources — making it the decisive level before the moderate 58/100 shelf at $92.26 (R3, Fibo 1.272, BB Upper). On the downside, the $81.06 support scores 78/100 (STRONG) from ATR Lower, Fibo 0.214, Ichimoku Tenkan and Pivot Point confluence, with $77.31 next at 75/100 (BB Middle, SMA 20, Fibo 0.382, S2). Derivatives positioning on COINOTAG's aggregate across Binance, Bybit and HyperLiquid shows perp funding at 0.0033% and open interest of $2.32 billion — a mild long lean, not overheated. With the RSI at 68.85, a bullish MACD signal and an intact uptrend, a daily close above $86.80 favors continuation toward $92; losing $81.06 would invalidate that thesis and expose $77.31. The Fear & Greed Index at 69/100 (Greed) adds a contrarian caution flag.