HYPE Retests Key Support, Whale Buys Hint at Rebound

TLDR:

• HYPE tests critical $36–$38 zone that supported prior breakouts in May.
• Analyst BATMAN eyes $45.80 if trendline support holds and rebound confirms.
• Whale wallet spent $6M at $36 average, showing high-conviction accumulation.
• Trading volume at $272M remains strong despite minor weekly price decline.

Hyperliquid (HYPE) price is testing a crucial support level following a months-long recovery. 

After breaking out of a downtrend earlier this year, the token climbed steadily before pulling back in recent days. Analysts now watch the $36 to $38 range, which has served as a vital pivot in past price action. 

This area could determine whether HYPE maintains its uptrend or slips further. The market is now focused on whether support holds and sets the stage for a renewed push higher.

$36–$38 Zone Becomes Key Focus for HYPE Traders

HYPE’s current price action sits right above a level that previously acted as a launchpad in late May. 

According to the chart shared by analyst BATMAN, the uptrend that began in April remains intact, but now hinges on the token holding above this zone. This area marks both prior consolidation and the lower bound of the rising trendline. 

Been watching $HYPE closely

It broke out of that long downtrend months ago, went on a solid run and now it is pulling back right into support.

This zone around $36–38 is super important. If it holds and flips back up, $45+ is very much on the table.

Not rushing in I'm Just… pic.twitter.com/lMSnDYL5z4

— BATMAN ⚡ (@CryptosBatman) June 26, 2025

A breakdown below may invalidate the bullish setup, while a bounce could lead to a retest of higher levels.

BATMAN stated that he is watching the $36–$38 area closely and sees potential for a move back above $45 if the price rebounds. He described the setup as promising but noted the importance of patience until the trend confirms itself. 

The chart highlights $45.80 as the likely target if the price turns up from the current level.

Hyperliquid Whale Accumulation Fuels Bullish Sentiment

Large-scale buying activity has added to optimism around HYPE’s potential rebound. 

Blockchain tracker Spot On Chain reported that a major buyer deposited $20 million in USDC into Hyperliquid. The wallet has already spent nearly $6 million to acquire over 165,000 HYPE tokens at an average of $36.08. 

Massive $HYPE purchase detected!

7 hours ago, a whale deposited $20M $USDC into #Hyperliquid and has since spent $5.97M to purchase 165,366 $HYPE at an average price of $36.08.

The accumulation appears to be ongoing.

Let’s follow @spotonchain for more updates now!… pic.twitter.com/oALO0TLB0F

— Spot On Chain (@spotonchain) June 27, 2025

The accumulation appears ongoing, indicating strong confidence at current levels.

This activity suggests some players view the current dip as an opportunity rather than a breakdown. Heavy buying near support levels often signals an attempt to defend price floors or build long positions before a move upward.

At the time of writing, HYPE is trading at $37.01, down 0.85% over the last 24 hours. Over the past week, the token has declined by 1.27%, according to CoinGecko data. Despite the dip, daily trading volume remains high at $272 million, reflecting strong market interest.

The next few sessions could determine whether HYPE regains momentum. If support holds, traders may shift focus to reclaiming $45, where the next major resistance lies.