Hyperliquid is holding steady above $38 to $40, turning a past breakout zone into fresh support. With the 20-day EMA backing the move and momentum still building, participants are eyeing the next push towards higher targets.

Hyperliquid Chart Structure Points Towards Bullish Reversal

Hyperliquid’s daily chart shared by Aylo shows price holding firmly above its prior breakout zone around $38 to $40, with the 20-day EMA acting as dynamic support. This consolidation above the key horizontal level comes after a strong multi-month uptrend, suggesting that the market is absorbing profit-taking before the next leg higher. The RSI remains mid-range, indicating there’s still room for momentum to build without immediate overbought pressure.

Hyperliquid holds above its $38–$40 breakout zone, keeping bullish momentum intact with eyes on $50. Source: Aylo via X

From a structural perspective, maintaining this $35 support zone keeps the bullish setup intact. If price can now sustain above $40 and push through recent swing highs, the next upside targets sit near $50 and potentially $58.

HYPE’s Breakout Signals Trend Re-Entry

The latest daily chart for HYPE shows price breaking out from a short-term descending channel, reclaiming territory above both the 20-day and 50-day EMAs. This move suggests early signs of momentum returning, with the Bollinger Bands starting to open up after a period of compression. Volume has picked up slightly on the breakout, adding credibility to the idea that buyers are stepping back in after the recent pullback.

HYPE breaks out from a descending channel, reclaiming key EMAs and eyeing a move toward $50. Source: Cheds Trading via X

Technically, the $38 to $40 region now serves as a key support zone, with the next immediate test being the $44 to $45 resistance area that capped price. A confirmed close above that level could open the door for a retest of the $50 region, keeping Hyperliquid price aligned with the broader bullish structure.

Hyperliquid Records Highest-Ever Monthly Volume in July

July marked a major milestone for Hyperliquid, as it recorded its highest-ever monthly trade volume, according to DefiLlama data. The chart shows a sharp rise in perpetual protocol activity, with Hyperliquid’s share standing out prominently against competitors. This growth underscores the platform’s rising dominance in the derivatives market and signals deepening liquidity, which is critical for sustaining tight spreads and smooth trade execution.

Hyperliquid hits record monthly trading volume in July. Source: unfolded via X

From a broader market perspective, when paired with the recent bullish price structures and trend re-entries seen in Hyperliquid’s charts, this surge in trading activity adds another supportive layer to the case for potential continuation toward higher price targets.

Fundamentals Continue to Outshine

In a notable follow-through to its record trading volumes, Hyperliquid also outpaced Solana in network revenue for July, generating $87.73M compared to Solana’s $87.03M, according to a report shared by Crypto_Rand. This achievement placed Hyperliquid at the top of the leaderboard for fee-based earnings across major blockchain networks, ahead of Ethereum, Tron, and Bitcoin. The revenue surge highlights HYPE’s growing on-chain dominance.

Hyperliquid tops July network revenue charts with $87.73M, surpassing Solana, Ethereum, Tron, and Bitcoin. Source: Crypto_Rand via X

Hyperliquid Price Prediction Targets 3-Digit Price

Famous crypto analyst Crypto Patel’s analysis shows HYPE Hyperliquid price is trading within a well-defined ascending channel, with price now attempting a breakout from the mid-range after holding key support near $37. This zone not only aligns with the lower boundary of the channel but also matches a prior reaction area, reinforcing its technical importance. Momentum remains constructive with the structure maintaining its strength.

Hyperliquid eyes a breakout towards $100, with key interim targets at $52 and $65. Source: Crypto Patel via X

A confirmed breakout from the channel’s upper boundary could accelerate the move towards Patel’s projected $100 target, with interim levels to watch around $52 and $65. Combined with the recent surge in network revenue and record trading volumes, the technical setup now aligns with strong fundamentals, adding weight to the possibility of sustained upside.

Final Thoughts: Can Hyperliquid Break Into the $100 Club?

With price holding firm above the $38 to $40 support zone, record-breaking July volumes, and network revenue surpassing even Solana, Hyperliquid is building a strong case for further upside. If bulls can push through the $44 to $45 resistance and reclaim momentum inside the ascending channel, the road towards $50 and $65 could open quickly, bringing Patel’s ambitious $100 target well within the view.

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Filed under: Bitcoin - @ August 9, 2025 8:20 pm