Whales Accumulate HYPE as Market Shows Signs of Recovery

• Whales accumulate HYPE despite a dip, signaling confidence in a potential recovery. Key support holds strong.
• HYPE consolidates after resistance at $26.419; a breakout could push the price toward $29.126.
• Market awaits direction—holding above $21.236 supports bullish momentum, while failure could trigger a drop to $20.782.

Hyperliquid (HYPE) has drawn attention as whales accumulate amid a 9% price dip. The price currently stands at $23.569, reflecting a 1.15% decline. Despite the downturn, whale activity signals strong confidence in a potential recovery. Notably, two major buyers recently acquired large amounts of HYPE, demonstrating bullish sentiment.

Whales Buy the Dip

Whale “0x336” invested $3.15 million USDC to purchase 131,160 HYPE at an average price of $24.04. Meanwhile, whale “0x643” spent $1.75 million USDC to acquire 72,792.5 HYPE at the same average price. These transactions indicate strategic accumulation despite the market correction. Moreover, Hyperliquid remains the top venue for new launches, with high open interest in emerging tokens like BERA.

Market Trends and Technical Levels

The price chart illustrates very high volatility; the price has been forming sharp ups and downs, shaping this trend. Earlier, HYPE surged past $30 and faced resistance. The market has formed lower highs and lower lows since then, consolidating with a well-defined range. The 26.419 USDT level has acted as resistance for quite some time now and has not allowed further upside movement.

Key support lies between 21.236 and 22.613 USDT, where strong buying interest has emerged. The price has tested this zone multiple times without breaking below it. If it remains above 23.569 USDT, an upward reversal toward 26.419 USDT could unfold. A successful breakout above this level may propel the price to 29.126 USDT, unlocking further bullish momentum.

Projected Market Movement

A short-term dip remains possible before a rebound. The price could briefly decline into the support range before recovering. If buying pressure intensifies, the first target will be 26.419 USDT, followed by a push toward 29.126 USDT. However, failure to hold above 21.236 USDT could lead to a drop toward 20.782 USDT.

Liquidity remains strong, with notable activity near key support and resistance levels. The broader trend suggests consolidation, but the direction will depend on upcoming market movements. A breakout above resistance or a breakdown below support will determine the next phase. 

Previous resistance attempts failed, causing retracements. If buyers regain control, a rally toward 30 USDT could materialize. Increased selling pressure near resistance might prolong range-bound movement. The market remains at a decisive point, awaiting confirmation of the next trend direction.