From Coinpedia · By Sahana Vibhute
Story HighlightsHYPE’s burn supports demand, but the recent token unlock worth $340 million could create supply pressure near key resistance
A break above $100 could bring buyers back in control, while a loss may extend the ongoing consolidation
The Hyperliquid (HYPE) price is hovering near $90 as traders weigh two very different supply forces. Hyperliquid recently bought and burnt $10.15 million worth of HYPE, permanently removing tokens from circulation. In contrast, a $340 million token unlock is adding a much larger potential supply overhang. The unlock is more than 33 times the value of the latest burn, making the balance between new supply and demand a key factor for HYPE’s next move.
Still, the potential selling pressure comes as HYPE trades below the $97 to $100 resistance zone. If demand absorbs the unlock and pushes HYPE above resistance, the token could regain momentum toward $110. If not, the supply overhang could keep bulls under pressure.
HYPE Price Analysis: Bulls Need to Clear $100 Resistance
HYPE is trading around $93 after recovering from the recent correction, but the technical setup shows that momentum is approaching a decision point. Price remains above the 20-day SMA, keeping the short-term structure constructive, while the Bollinger Bands are compressing after the recent expansion. This suggests the bulls are currently accumulating strength as the price prepares for strong price action in the next few days. A sustained move upwards may strengthen the bulls and test higher targets.
The broader trend remains supported by an expanding rising channel, with the upper boundary currently pointing toward the $110 to $116 region. However, the momentum needs confirmation: a breakout above $100 accompanied by expanding volume would strengthen the bullish set-up. A rejection from the upper band could drag the levels close to $85, which is the next technical support. Additionally, the MACD diverges before undergoing a bullish crossover, hence suggesting the token may undergo an extended correcting phase.
HYPE Burn & Greyscale Strengthen the Bullish Setup
Hyperliquid’s latest HYPE burn adds a fresh bullish catalyst. The protocol bought and burnt 112.58K HYPE worth $10.15. The burn also highlights the platform’s growing fee generation, which reached $989K in the past 24 hours. In addition, seven-day revenue stood at $9.85 million, while 30-day revenue reached $52.06 million. Around 49.25 million HYPE has now been permanently removed from the supply.
On the other hand, Greyscale’s Hyperliquid staking ETF has expanded its custody infrastructure, adding BitGo Bank & Trust as an additional custodian; Anchorage remains the primary one. The move does not represent a new ETF approval, but it shows that institutional infrastructure around HYPE continues to develop.