HYPE Hits New ATH Above $85 as Altcoins Extend Their Rally

1 month ago 13

Key Takeaways

Open interest reached nearly $3.9 billion.

Futures turnover exceeded spot volume seventeenfold.

Liquidations remained limited at $5.55 million.

Solana led altcoins with an 11.49% gain.

HYPE breaks through its previous record

HYPE reached approximately $85.3 at the time of writing, according to CoinGlass. The token gained about 5% over 24 hours and 16.8% during the week.

The breakout developed over several sessions. HYPE first reached $83.60 on August 23 and then retreated toward the area that had capped its earlier rallies. Buyers defended the former resistance zone around $77-$78, which our team identified as the main support protecting the new market structure.

HYPE returned to the high with more capital committed through derivatives. The move through $83.60 removed the last recorded price ceiling and opened the route above $85.