Hyperliquid (HYPE) is currently valued at around $34, with a daily trading volume of $480 million. This marks a 9% increase over the last 24 hours, though it has seen a minor decline in the past week.

The price recently tested the $30–$33 support range and has since rebounded towards the $36 resistance.

Support Maintains as Price Moves Toward Reversal

HYPE has encountered this support level multiple times since June, with each instance proving resilient as buyers have entered the market. The recent chart indicates a possibility of a double-bottom pattern forming.

CryptoPulse noted:

“This level has acted as a strong bounce area multiple times — and if price holds here, we could be looking at a potential double-bottom reversal pattern forming.”

For this pattern to materialize, a breakout over the $36–$38 resistance level is crucial, particularly as it has previously stalled rallies. If overcome, the next goals could be $40 and $50 in the upcoming weeks.

The MACD line has also crossed above the signal line, indicating a reading of 0.098 against a signal line of -1.87. The histogram is now positive, hinting at an early shift in momentum.

TradingView Source

Futures Market Sees Increased Activity

Futures open interest grew to $1.57 billion following a significant drop in late November, indicating renewed trader engagement as prices steadily recover. A rise in open interest coupled with price increases generally suggests a healthy market enthusiasm.

Coinglass Source

Interest in Hyperliquid Strategies is anticipated to launch on Nasdaq under the ticker $PURR, with the fund holding 12.6 million HYPE tokens and $300 million in cash reserves, operating as part of the Hyperliquid ecosystem.

Hyperliquid Daily reported:

“Hyperliquid Strategies will operate as a HYPE token treasury reserve, holding approximately 12.6 million $HYPE tokens and $300 million in cash.”

This move follows the approval of a merger with Nasdaq-listed Sonnet, potentially resulting in a $1 billion digital asset treasury.