Market Analysis and Key Levels
HYPE is currently trading within a critical range, finding support near $24 and facing resistance between $26 and $26.50. A successful breakout above these resistance levels could signal a move towards higher prices.
Crypto traders are closely observing HYPE's performance on Binance, where it is trading within the $24–$26 range. According to analyst Crypto Bully, the HYPE/USDT perpetual contract has stabilized after a significant decline. It has bounced off the Value Area Low (VAL) around $24, indicating that buyers are actively stepping in at this demand zone and confirming strong interest at lower price points.
However, the cryptocurrency is encountering resistance in the $26–$26.50 area. Previous attempts to break through this level have been unsuccessful. Crypto Bully noted that for HYPE to trade higher, it must surpass the $26 level. Trading within the current $24-$26 range is considered favorable otherwise.
The current market chart depicts a period of consolidation for HYPE. The price is repeatedly crossing moving averages, which suggests sideways momentum rather than a clear upward or downward trend. Each dip towards support is met with buying activity, while tests of the upper resistance levels have resulted in rejections. Furthermore, the failed auction near $27 indicates that the market may not yet be prepared for sustained price increases.
If HYPE manages to break and maintain a position above $26.50–$27, bullish momentum could propel prices to new record highs. Conversely, continued failure to overcome resistance might lead to price rotation back towards demand levels, keeping the asset range-bound. Therefore, traders are advised to monitor these key levels closely for any decisive price movements.
Massive Whale Positions Influence Market Sentiment
Adding to the market's dynamics, a substantial leveraged position has emerged on Hyperliquid. The prominent trader, known as "1011 insider whale" or BitcoinOG, has initiated long positions valued at over $900 million across Bitcoin, Ethereum, and Solana.
This particular trader gained significant attention previously for shorting the market before the October 2025 crash, reportedly realizing profits of $200 million. Currently, the whale commands $265 million in real capital, utilizing approximately 3.4x leverage and holding an unrealized profit of $38 million. This significant activity is contributing to increased confidence among retail traders and smaller investment funds, thereby fueling bullish sentiment in the market.
Large leveraged positions have the potential to profoundly impact market psychology. Funding rates are on the rise, which is an indicator that an increasing number of traders are opening long positions. Nevertheless, the associated risks remain considerable. A decline below critical support levels, such as Bitcoin's $90,000 mark, could trigger extensive liquidations, leading to sharp and volatile price swings. Despite these risks, the whale appears to maintain a long-term holding strategy, suggesting a strong conviction in the continued strength of the market.