- Excessive liquidity price remains above the major support level as traders keep an eye on the $61.92 level.
- Bitcoin’s move around $63,000 could shape the next trend for HYPE.
- Hyperliquid’s total open interest has risen to nearly $11 billion.
Hyperliquid (HYPE) has entered a crucial phase after pulling back from its recent record high, with traders closely watching whether the token can settle above key support levels.
The latest decline comes as the broader cryptocurrency markets react to rising geopolitical tensions and exit What’s next for Bitcoin? In the center of attention.
However, while HYPE has lost momentum over the past week, the network continues to post strong trading activity, creating an interesting contrast between short-term price action and the growth of the underlying platform.
Support for excessive liquidity price tests after weekly decline
HYPE is trading at around $65, down 7.0% over the past seven days after hitting an all-time high of $76.87 on June 16.
The correction pushed the symbol towards an important support area between $64 and $65, as buyers started defending prices.
The next few trading sessions could be crucial.
If Hyperliquid price can reclaim $67 on stronger buying volume, the token could make another attempt at the $70 level.
However, failure to hold the current support area would shift attention to the $61.92 level, which has emerged as the next major technical floor.
A break below $61.92 could expose the token to further downside, with $60 likely to become the next area that traders are likely to watch.
Bitcoin remains one of the biggest external factors influencing this outlook.
The broader market has come under pressure following renewed geopolitical uncertainty, and Bitcoin’s ability to stay above $63,000 is seen as an important signal for risky assets across the cryptocurrency market.
If Bitcoin holds above $63,000, it could provide enough stability for HYPE to consolidate. On the other hand, a move below it could trigger another wave of altcoin selling.
Technical indicators point to mixed momentum in the short term
The latest technical indicators indicate that HYPE has not yet set a clear trend despite the recent correction.
The Relative Strength Index (RSI) is currently at 47.99, which puts it in the neutral zone.
This indicates that the token is neither overbought nor oversold, leaving room for buyers or sellers to take control depending on broader market conditions.
Exponential moving averages paint a more positive picture over a longer period of time.
HYPE continues to trade above the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), suggesting that the broader uptrend remains intact despite the recent decline.
Meanwhile, the token fell below the 10-day and 20-day EMAs, indicating that short-term resistance remains before momentum can fully recover.
This combination of indicators indicates that while… Long-term forecasts If the pair remains positive, the near-term trend will depend on whether buyers can regain control around current price levels.
Hyperliquid platform activity continues to expand
Although HYPE has retreated from its recent highs, activity on the Hyperliquid ecosystem continues to grow.
the Total Value Locked Protocol (TVL) It is approximately US$6.013 billion, reflecting the continued capital allocated to the platform.
Meanwhile, 24-hour trading volume remains close to $296 million, highlighting continued market participation despite recent volatility.
Another notable development is the rapid growth in financial derivatives activity. Total open interest has risen to nearly $11 billion, while Real Assets (RWA) perpetual contracts account for nearly $3.6 billion of that number.
Real Assets (RWA) open interest on Hyperliquid has reached a new ATH of $3.6 billion
Total OI reached a new high for 2026 of $11 billion pic.twitter.com/FJyeuUq0ya
– HyperliquidX (@HyperliquidX) July 13, 2026
The increase shows that traders are expanding beyond native crypto products to token exposure tied to traditional financial assets.
Growth in RWA trading has become one of Hyperliquid’s defining trends during 2026, helping the platform attract additional trading activity even as digital asset prices experience short-term volatility.
Key HYPE price levels to watch
The coming days are likely to be shaped by technical price levels and broader market sentiment.
The first area to watch remains $64-$65, where buyers are so far trying to defend support. If this area holds and HYPE reclaims $67 on stronger volume, interest could quickly shift back toward $70.
On the downside, the $61.92 level has become the most important technical support. A sustained move below this level would increase the possibility of a deeper correction towards $60, especially if Bitcoin also loses the support at $63,000.
Currently, Hyperliquid price finds itself at a pivot point.
Short-term momentum has weakened after a 7% weekly decline, however the broader technical structure remains constructive, while platform activity continues to reach new milestones.
Whether the token resumes its broader uptrend or extends its correction will likely depend on what is next for Bitcoin and how traders respond around these key technical levels.
