Hyperliquid (HYPE) is trading near $71.82, up 4.4% in 24 hours, as the bulls attempt a third breakout above the all-time high of $76.70. The token has gained nearly 250% from its January low near $20.50.
Record revenues from the protocol and new inflows from exchange-traded funds (ETFs) support this attempt. Meanwhile, monthly token openings and increased regulatory scrutiny keep sellers well-equipped with arguments in favor of a lower target price for Super Liquid.
Record revenues and ETF inflows fuel the upside
Hyperliquid surpassed $1 billion in cumulative protocol revenue on June 30, according to DeFiLlama. The platform directs about 99% of trading fees to HYPE open market purchases through its assistance fund, according to A symbolic world Data.
So, the launch of 9.92 million HYPE on July 6, worth about $645 million, met a buyback fund said to contain 4.6 times that amount. Buyback demand has captured similar segments before.
Institutional reach is also expanding. Bitwise’s BHYP and 21Shares’ THYP were listed in mid-May as the first spot HYPE ETFs in the US. Combined net inflows exceeded $170 million by early July, and Grayscale filed its S-1 with second.
The buyback and ETF process has already been strengthened Flipping Speculation in May.
The token opens and regulators are testing the rally
The primary shareholder entitlement issues a new HYPE tranche on the 6th of every month through 2027. Only about 22% of the $1 billion maximum offering is trading today, so dilution remains a recurring headwind.
Regulatory pressure is also increasing. Monetary Authority of Singapore (but) added Hyperliquid to its investor alert list in late June, as… Singapore It joins previous UK warnings. Additionally, CME and ICE executives urged the Commodity Futures Trading Commission (CFTC) to review the platform’s perpetual commodities, Bloomberg reported in May. HYPE is down about 6% on this report.
Macro conditions add friction. U.S. Bitcoin ETFs hit a record $4.5 billion in June flowThe feelings lie in extreme fear. Buybacks also increase with volume, so their support may fade during a market-wide drawdown.
The daily chart shows that buyers are defending higher Fibonacci levels
HYPE has been on an upward trend since January. The mid-June retracement from the record high stalled at the 0.382 Fibonacci retracement level near $55.41. However, the next pullback ended at the shallow 0.236 level at $63.66.
Each correction was shallower than the previous one, indicating strengthening demand. Late June analysis It showed that user activity remained resilient during the deepest of these declines.
If sellers force a larger reset, a 0.618 retracement at $42.07 will emerge. It roughly coincides with the uptrend line and historical support area near $44. The daily Relative Strength Index (RSI) fell to around 60 while maintaining a bullish structure.
Volatility pressure on the 4-hour chart indicates the next move
The 4-hour chart shows the price wrapping in a contracting triangle since the peak on June 16. HYPE is currently pressing the upper boundary of the pattern near $72. The 0.236 retracement at $63.66 acts as temporary support within the structure.
The RSI on this time frame is also hovering near 60, just below the bullish zone. Meanwhile, the Bollinger Bands Percentile (BBWP) is printing very low readings. Historically, this volatility pressure precedes a strong directional expansion.
Super Liquid Price Prediction, $77 breakout or reset to $63.66
A 4-hour close above the triangle, followed by a daily close above $76.70, will initiate price discovery. The rising triangle is anticipating a calculated move near the $88 level, roughly 22% above the current price. Continued ETF inflows could accelerate this scenario.
In contrast, a rejection at the record high would expose first $63.66, then $55.41. A daily close below $63.66 would signal a deeper reset. The larger uptrend just breaks through the $42 confluence of the 0.618 retracement and trend line.
The July verdict depends on whether the compressed volatility resolves upward to price discovery or downward to another Fibonacci test.
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