- Hyperliquid sees rising activity as HIP-4 boosts trading and institutional interest.
- HYPE now targets $89.30 resistance.
Hyperliquid (HYPE) is gaining strength as institutional interest grows and trading activity across its ecosystem picks up. HYPE was trading near $87.79 after rising 7.17% in 24 hours, with the price holding above key moving averages.
The rollout of HIP-4 outcome contracts has added another source of trading activity to Hyperliquid. Rising volumes and growing liquidity could support HYPE as traders watch for a move above key resistance.
HIP-4 Adds a New Source of Trading Activity
HIP-4 allows developers to create outcome-based markets on Hyperliquid. The public opening of HIP-4 venues has already generated strong trading activity.
This gives Hyperliquid another way to expand beyond traditional perpetual futures. More trading products could attract new users and increase activity across the network.
The growth comes as Hyperliquid’s total value locked has reached about $6.53 billion. The protocol has also continued expanding its product range through HIP-3 and other upgrades.
If HIP-4 volumes keep rising, the increased activity could support the wider Hyperliquid ecosystem.
Institutional Interest in HYPE Is Growing
Institutional positioning has also become an important factor for HYPE.
Hyperliquid Strategies expanded its Chardan equity facility from $1 billion to $2.5 billion. The larger facility gives the company more capacity for potential HYPE purchases and other corporate purposes.
HYPE has also entered the Hashdex Nasdaq CME Crypto Index ETF. It now represents about 3.4% of the fund, making it the fifth-largest holding.
The ETF exposure gives investors another regulated route to gain exposure to HYPE. It could also increase demand if passive investment flows continue.
Large transfers involving Multicoin Capital and Coinbase Prime have added another sign of increased institutional activity. However, such transfers could also increase available supply and create short-term selling pressure.
HYPE Price Faces a Key Resistance Level
HYPE continues to trade above its major hourly moving averages, keeping the short-term trend bullish. The 20-hour moving average stands at $83.39, while the 50-hour and 200-hour averages sit at $82.54 and $51.95, respectively.
The Ichimoku Kijun also offers support near $83.79. Meanwhile, MACD, ADX and the Awesome Oscillator point to continued buying interest.
However, HYPE is approaching overbought territory. Its RSI stands at 69.51, while other oscillators also show elevated readings. This suggests that HYPE could face a short-term pullback after its recent gains.
Can HYPE Break Above $89.30?
HYPE is expected to trade within an $83.98 to $89.30 range over the next two to three trading days. The $89.30 level is the key resistance to watch. A clear break above it could strengthen the bullish outlook and open the door to further gains.
On the other hand, a move below the $83.79 support level could signal weakening demand. HYPE could then face greater selling pressure.
For now, the combination of HIP-4 activity, institutional interest and strong technical support keeps HYPE in focus. The next major test will be whether buyers can push the price above $89.30.
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