HYPE Reaches $55 Between Whale Sales and Fee-Funded Buys

1 month ago 19

Key Takeaways

HYPE is testing rising-channel support near $55 after retreating from its July channel resistance.
A reclaim of $57 would mark the first improvement, but heavier resistance sits between $59 and $61.
A tracked whale has sold more than $110 million in HYPE across two reported transactions.
Hyperliquid’s Assistance Fund continues to turn part of the protocol’s fee revenue into HYPE purchases.

After meeting resistance at the upper boundary of its daily ascending channel in July, HYPE reversed and entered a correction that has now brought the token back toward $55.

This area combines the channel’s rising lower trendline with horizontal support around $54-$55, where buyers have repeatedly stepped in. As long as that confluence zone holds, the current decline can remain a pullback within the broader uptrend. A daily break below it would weaken the structure and expose the lower support levels.