Hyperliquid Surges 10%; Hits a New All-Time High: A Rally to $50 for Hype?

Key Insights

• Hype surges 10% in 24 hours to reach a new all time high

• Hyperliquid bulls are eyeing a rally to $50

Hyperliquid Hit a New all time high

Hyperliquid’s native token, HYPE, has once again claimed the spotlight, surging past previous records to hit a second all-time high within a week.

The altcoin has surged to hit a new all time high of $44.8. This marked a 10.2% surge on daily charts and 20% surge on weekly charts. Over the past 30 days, Hype has surged by 62%.

The surge indicates strong demand for the altcoin as investors both whales and retailers turn to accumulating the altcoin.

Hyperliquid HYPE Derivatives Data Analysis reveals a 36.51% increase in volume, reaching $1.88 billion, and a 16.95% rise in open interest, totaling $2.08 billion. Long/short ratios for various platforms indicate dynamic trading positions.

Recent derivatives data backs up the on-chain and price action optimism. Volume on Hyperliquid is up by 36.51%, hitting $1.88 billion, while open interest has jumped 16.95% to $2.08 billion marking a new all-time high. This spike suggests growing market participation and confidence, not just in spot but in leverage-driven momentum.

Also Read: Uniswap surges 24% to hit a 3 months high

Additionally, Long/short ratios are further reinforcing this bullish sentiment: The 24-hour global long/short ratio stands at 1.0721, signaling more traders betting on upside.

On Binance, the top trader long/short positions ratio has soared to 1.2586, a clear sign whales and experienced accounts are stacking long positions. Even though the account-based long/short ratio on Binance remains below 1 (at 0.6581), it reflects retail skepticism often a counter-indicator during bullish surges.

Adding fuel to the fire is a high-profile move by “AguilaTraders,” a prominent crypto whale known for past multi-million dollar wins. After absorbing a $12.47 million loss earlier, the trader returned with an aggressive $200 million Bitcoin long position on Hyperliquid, deploying 20x leverage to bet on further upside.

Currently holding 1,894 BTC, his re-entry shows rising institutional interest in Hyperliquid’s growing derivatives ecosystem

Can HYPE Rally to new all time high of $50?

Price chart of Hyperliquid against the US Dollar showing a strong upward trend, with a significant daily increase of 7.78%. The RSI indicator suggests the market is approaching overbought conditions.

From a technical standpoint, HYPE’s daily chart paints a clear picture of strong bullish control. The Relative Strength Index (RSI) is now hovering around 69.6, brushing up against the overbought threshold.

Historically, this signals potential short-term cooling. However, given the volume and trend strength, it’s not unusual for RSI to remain elevated during aggressive rallies, especially if supported by healthy volume growth.

With its recent price strength, HYPE is now aiming for more gains. After touching $44.8, it briefly retraced, finding solid support around $43.14 a former resistance turned foundation.

If this level continues to hold, bulls could aim for the next resistance near $46.35, aligned with the 1.618 Fibonacci extension level.

A reach to this level will see they crypto rally to record high of $50. However, should momentum wane, a fallback to the $39.11 area may occur, potentially attracting dip buyers given the bullish macro and on-chain backdrop.