Hyperliquid’s native token, HYPE, is hovering near a critical support zone after a failed attempt to surpass its previous peak. Attention in the market turned to whether the $62 level could be maintained. It is considered that if this zone is defended strongly, the price may gain momentum again, otherwise the horizontal and weak course may continue for a while.
The direction of the price depends on the $62 support
According to Sjuul, the cryptocurrency analyst featured in the news, HYPE has once again tried to move into new price discovery territory by breaking above the previous all-time high. Although the buying outlook gained strength in the first stage, increasing selling pressure and profit taking in the resistance zone stopped this movement.
According to analyst Sjuul, although HYPE tried to rise above the previous peak, sales in the resistance zone prevented the continuation of the movement and moved the market’s focus back to the $62 support.
Therefore, the most important threshold in the short term stands out as $62. If buyers maintain this level and turn it into a solid support area, it may be possible for the HYPE price to rebound and head towards the all-time high at $76.
HYPE was trading at $67.93 at the time of writing. The token’s 24-hour trading volume was $1.06 billion and its market value was $17.2 billion. Although there has been a 5.44 percent withdrawal in the last 24 hours, it is reported that the price structure is not completely damaged.
| Indicator | Value |
|---|---|
| current price | $67.93 |
| critical support | 62 dollars |
| all time high | 76 dollars |
| 24 hour change | 5.44 percent decrease |
Protocol revenues indicated that demand continues
In addition to price movement, network data are also among the factors supporting interest in Hyperliquid. According to MSB Intel data, the protocol generated approximately $62.8 million in on-chain revenue in the last 30 days. This performance made Hyperliquid one of the leading protocols in the market in the relevant period.
Hyperliquid is known as a protocol that focuses on decentralized derivative transactions. It was stated that the revenue level on the platform exceeds the total revenue of its three largest competitors. This picture indicates that demand remains strong, especially for perpetual futures products.
Mini dictionary: Perpetual futures refers to derivative products that do not have a specific maturity date, unlike classical futures contracts. In these products, a funding mechanism is generally used to prevent the price from being excessively disconnected from the spot market.
MSB Intel data revealed that Hyperliquid generated $62.8 million in on-chain revenue in the last 30 days, surpassing the combined total of its three largest competitors.
The news noted that this trend shows that investors are turning to faster and lower-cost decentralized continuous futures trading platforms. It was also stated that Hyperliquid’s commission-based structure may indicate a more organic adoption rather than an incentive-driven temporary user flow.
However, it is emphasized that protocol revenues and price expectations will continue to depend on the general conditions of the cryptocurrency market. The evaluations in the news constitute market analysis and price prediction; It is also stated that these do not mean definitive results or guarantees.
