Reviewed by Reviewed by Jibin Mathew George Updated 09:20 EDT October 1, 2026 Share Share Share Back to Top After a $329 million OTC sale, Hyperliquid [HYPE] rose by 3.48% in the last 24 hours to hit $89.55. Selling 3.75 million HYPE tokens to one institutional buyer eased short-term selling worries, helping the token outperform the wider crypto market
However, at press time, the move was yet to gather enough momentum to confirm a stronger breakout. With HYPE now testing the key $89.6-level, the daily and 4-hour charts suggested the token could consolidate in the near term before its next move
HYPE has traded within the 23.6% Fibonacci level zone since mid-September. After recently retesting this level as support, the bulls managed to reclaim it and push the price back towards $90. While the recovery remains intact, the move is yet to show enough strength to point to a clear breakout, suggesting HYPE could remain in a consolidation phase for now
The indicators also seemed to be leaning bullish. However, momentum still remains modest. The RSI stood at 54.28 at the time of writing, indicating that buyers had the slightest edge without the stronger momentum associated with a decisive trend move
Furthermore, the OBV has maintained an overall uptrend before flattening recently. This suggested that buying pressure may be losing some of its recent momentum
The 4-hour chart also agreed with the cautious outlook. On the H4 timeframe, HYPE was trading around the 50% Fibonacci level and was attempting to reclaim the $89.6 area. This had acted as support since mid-September before breaking lower towards the end of the month
The RSI was at 52.09 at the time of writing, just above the neutral 50-mark. Also, the OBV flattened after a sharp decline, hinting that selling pressure may have eased
As long as HYPE can reclaim and hold $89.6, the $92-94 zone could come back into focus. A failure to hold this level, however, could keep the token in consolidation and expose it to further downside
