Hyperliquid’s HYPE token is trading near weekly highs around $32.63 after posting gains of about 1.5% in the past 24 hours and roughly 16% over the past week.
The token remains about 44% below its September 2025 all-time high of $59.30 but has significantly outperformed the broader market over the past year.
Technical indicators turned bullish after the MACD line crossed above the signal line, signalling improving short-term momentum.
The relative strength index has also climbed above 50 while remaining below overbought territory, suggesting room for additional upside if buying pressure continues.
Price is currently testing the $33–$34 resistance zone after forming a series of higher lows following a late-February pullback.
Analysts say a sustained move above $34 could open the door to a push toward $35 or $36, with some projections pointing to the $38–$40 range if market sentiment improves.
However, a failure to hold support near $30 could expose downside risk toward $29 or lower, particularly ahead of a scheduled 9.92 million token unlock on March 6.
At the time of reporting, Hyperliquid price was $31.97.