Hyperliquid and PI Network
- Hyperliquid is hitting record highs in open interest fees and TVL showing strong platform growth.
- HYPE price broke key resistance and is retesting its $35 peak supported by bullish technical signals.
Hyperliquid’s native token, HYPE, is showing strong bullish signals as the platform hits new all-time highs (ATHs) across key trading metrics. Following a sharp price rally and robust platform growth, HYPE looks primed to challenge its previous peak near $35, opening the door to further gains.
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HYPE Price Breaks Major Resistance
In the past 24 hours, HYPE surged 15%, reaching $35.50 with trading volume spiking over 130%. This breakout above the $28 resistance level ended a nearly two-week consolidation and broke through a barrier that held firm since late December. Clearing these levels means HYPE is now on track to retest its $35 all-time high.
This price rise follows a strong upward trend that began in early April, when HYPE bottomed below $10. Since then, the token has posted five consecutive higher highs, consistently trading above key moving averages — the 20-day EMA and 50-day SMA. A bullish crossover between these averages in mid-April further solidified the uptrend.
Technical indicators are overwhelmingly bullish: the MACD line remains above its signal line, and the green histogram continues to grow. The RSI has reached 76, entering overbought territory, which might suggest a brief pullback or sideways consolidation before the next upward move.
Hyperliquid Platform’s Record-Breaking Growth
Hyperliquid hit multiple all-time highs today, including:
+ Open interest: $8.9B
+ 24h fees: $5.4M
+ USDC TVL: $3.2BOnchain, transparent markets are the future. pic.twitter.com/DBUWZZEkgk
— Hyperliquid (@HyperliquidX) May 22, 2025
Beyond technical price action, Hyperliquid’s derivatives trading platform is thriving with significant growth in vital metrics. The platform recently hit new ATHs with open interest reaching $8.9 billion, daily trading fees climbing to $5.4 million, and USD Coin (USDC) total value locked (TVL) swelling to $3.2 billion.
The rise in daily fees is especially important. These fees represent revenue that could be reinvested back into the protocol, potentially through token buybacks. If Hyperliquid uses some of its fees to repurchase HYPE tokens on the open market, it could reduce circulating supply, supporting higher prices over time.
What’s Next for HYPE?
With technical momentum aligned and the platform’s fundamentals improving rapidly, HYPE is positioned well for further gains. A successful retest of the $35 mark could launch the token into new price discovery territory, attracting more traders and investors.
While a short-term pullback or consolidation may occur due to overbought RSI levels, the overall outlook remains optimistic. Investors will watch closely if Hyperliquid continues growing its platform metrics and reinvesting revenues to strengthen the token’s value proposition.
HYPE’s recent performance and Hyperliquid’s expanding platform fundamentals make the token one to watch in the coming weeks. A breakout above $35 could signal the start of a significant bullish phase for this rising crypto asset.
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