A prominent crypto whale has recently acquired 170,904 Hyperliquid (HYPE) tokens worth approximately $6 million across two wallets, igniting bullish sentiment around the altcoin. One of the largest purchases included 80,321 HYPE bought at $37.35 using $3 million USDC, executed near a key resistance level. Despite a minor 2.57% intraday dip that placed HYPE at $36.62 at press time, this aggressive accumulation suggests the whale anticipates a breakout past current levels. The timing, coupled with the scale of the investment, indicates a calculated bet on HYPE’s near-term upside potential.
Price Positioned for Breakout Above $40
HYPE has maintained an impressive uptrend since April, supported by a steady ascending trendline and strong buy-side defense at the $32 level. After recently retesting this support, bulls re-entered the market, pushing the token toward the $38 resistance area. If price breaches this level, it could open the door for a rapid move toward the psychological $40 mark. Technical indicators remain favorable, with higher volume on green days and consistent trendline support reinforcing the bullish setup. Key liquidation zones around $38 and $40 also act as magnets during volatile moves, which could trigger short squeezes and fuel explosive gains.
Traders Wait for Confirmation Amid Stable Funding
While HYPE’s price action remains bullish, derivatives data reveals a cautious sentiment among traders. Open Interest has declined 2.46% to $1.46 billion, and trading volume has dipped by 4.75% to $1.25 billion, suggesting that leverage is being dialed back temporarily. Importantly, the OI-weighted funding rate remains neutral-to-slightly bullish at 0.0094%, reflecting a balanced market without extreme positioning.
Also Read: Hyperliquid Gains 10% Amid Whale Buys and Record Revenue
This stability in funding reduces the risk of sudden downside volatility and suggests that spot-driven accumulation—like that from whales—could have an outsized influence on price. If HYPE surges above $38, sidelined traders may re-enter quickly, potentially amplifying upward momentum.
With whale accumulation, strong technical support, and neutral funding rates aligning, HYPE appears poised for a potential breakout. A sustained move above $38 could ignite a rally toward $40, especially with liquidation clusters acting as catalysts. As long as HYPE holds above $32, the path of least resistance remains upward.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
