Key Points:
- Hyperliquid HYPE is trading at around $82 with the price staying above important EMAs and losing some momentum following the breakout.
- Multicoin has already sold about 75% of its peak holdings in HYPE and spent $1.75 million on buying Trasia Labs.
- HYPE has an allocation of 3.4% in the NCIQ ETF of Hashdex and can be traded on Coinbase.
Hyperliquid HYPE is consolidating near $82 after a sharp breakout above the previous consolidation range around $73, while technical indicators continue to show that the token remains above several key trend levels.
As of press time, HYPE was trading at $81.76, representing a 1.51% weekly decline, while its 24-hour trading volume fell 16.92% to $1.06 billion. Its market capitalization stood at $20.57 billion.
The recent price action has also coincided with developments involving Multicoin, Hashdex’s Nasdaq CME Crypto Index ETF and institutional products connected to the Hyperliquid ecosystem.
Hyperliquid HYPE Holds Above Key Technical Levels
The daily HYPE/USDT chart on KuCoin shows the token consolidating near its recent highs after moving above the previous range around $73. Price was recently positioned around $81.41 to $81.55 as the market entered a period of consolidation following the breakout.
HYPE remains above its major exponential moving averages. The 20-day EMA is $76.25, while the 50-day EMA is $68.81. The 100-day and 200-day EMAs are $63.21 and $55.50, respectively.
Source: Trading View
Positioning of prices above all four averages implies that the current market structure continues to be above these trend levels. The $76.25 20-day EMA represents immediate support, while the previous breakout area between $72.99 and $68.80 provides a broader support zone. A further macro support level is identified at $51.14.
HYPE Momentum Cools While Price Remains Near Highs
Other technical indicators show that HYPE has moved away from its recent overbought conditions. The Bollinger Bands currently place the upper band at $94.62 and the middle simple moving average at $75.65.
Source: Trading View
The price previously moved along the upper Bollinger Band during the breakout and is now trading above the middle band. The current position leaves HYPE between the middle and upper bands while the token consolidates near local highs.
The 14-day relative strength index is 63.47, while its moving average is 72.14. The RSI has therefore moved below the 70 level associated with overbought conditions. The figures show a cooling in momentum following the earlier price expansion.
Multicoin Reduces Its HYPE Position
Multicoin has also changed its exposure to HYPE. The investment firm accumulated roughly 4 million HYPE during February and March, when its holdings reached their peak.
Its current position is slightly more than one-quarter of that peak amount. Based on the figures provided, the firm has sold nearly 75% of its peak HYPE position.
Despite reducing its token holdings, Multicoin invested directly in the Hyperliquid ecosystem in July. On July 16, the firm invested $1.75 million in Trasia Labs, an Asia-focused perpetual futures platform built on Hyperliquid.
Multicoin was the sole investor in Trasia Labs’ seed round. The investment followed its earlier accumulation and subsequent reduction of HYPE holdings. In February, Multicoin co-founder Kyle Samani stepped back from the firm after nearly a decade. He remained chairman of Forward Industries.
HYPE Gains Exposure Through Crypto Index ETF
HYPE has also gained exposure through Hashdex’s Nasdaq CME Crypto Index ETF, known as NCIQ. The token was added with an approximately 3.4% weighting.
With that allocation, HYPE became the fund’s fifth-largest holding behind Bitcoin, Ethereum, XRP and Solana. The inclusion represents the first reported addition of HYPE to a U.S.-listed crypto index ETF based on the information provided.
The ETF inclusion provides another avenue through which U.S. investors can obtain exposure to HYPE through a listed investment product.
U.S. Trading and Staking Products Expand HYPE Access
Coinbase currently lists Hyperliquid for trading and offers HYPE-related derivatives, including cash-settled futures.
Institutional exposure has also extended to staking. Grayscale’s Hyperliquid Staking ETF, identified as HYPG, continues to focus on HYPE and the economics associated with staking within the Hyperliquid ecosystem.
These developments have occurred while HYPE remains near the upper end of its recent trading range. The token’s market data shows a weekly decline despite its position above the major daily EMAs.
FAQs
What is the current HYPE price?
HYPE was trading at $81.76, according to the information provided.
What is the main HYPE support level?
The immediate support level is the 20-day EMA at $76.25, followed by the $72.99 to $68.80 zone.
What is HYPE’s RSI?
The 14-day RSI stands at 63.47, while its moving average is 72.14.
How much HYPE did Multicoin accumulate?
Multicoin accumulated roughly 4 million HYPE during February and March before selling nearly 75% of its peak position.
