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HYPE Quick overview of key points
HYPE recorded a net spot inflow of US$1.53 million, and its overall 12-hour net flow change increased by approximately 353.49%.
Futures contracts showed a net outflow of US$9.59 million, indicating that leverage exposure has weakened, while direct spot demand remains in an overall positive balance.
HYPE is trading close to US$56.58. If it breaks through the US$57 mark, it may open up upside space towards the US$60 - 61 resistance area.
HYPE net spot flow surged 353%, prices approaching the US$57 mark
Hyperliquid's HYPE tokens recorded a 353.49% increase in net spot flow over a 12-hour period, while its price was trying to break US$57. During this period, HYPE attracted approximately US$8.84 million in spot inflows, while outflows were approximately US$7.31 million, according to Coinglass. The resulting difference is a positive net inflow of approximately $1.53 million, underscoring the stronger buying power in the broader trading window.
Meanwhile, HYPE is trading close to US$56.58, has rebounded from the US$52 region and is approaching an important cluster of technical resistance. This combination makes spot buying at the heart of this breakthrough attempt, rather than relying entirely on leveraged trading to drive prices up.
However, in terms of short-term spot flows, buying forces have not remained consistent across all statistical periods. The four-hour net flow was approximately minus $381,000, while the eight-hour net flow remained negative, approximately minus $287,000. Therefore, accumulation in the early stages of the 12-hour window contributes significantly to the overall positive reading. Recent selling has affected the rally, but broader statistics show buyers still have an advantage.
HYPE target points to US$57, futures traders reduce exposure
Derivatives flows provide important contrast, as futures activity remains negative as HYPE approaches the US$57 resistance zone. Outflows from 12-hour futures were approximately US$102.25 million, while inflows were US$92.66 million. As a result, futures recorded a negative spread of approximately $9.59 million, while the 4-hour and 8-hour indicators also remained negative. This divergence suggests that HYPE's price recovery was achieved despite a decrease in leverage exposure rather than an increase in futures holdings.
Spot purchases represent direct demand for HYPE, while futures contracts provide price exposure that eliminates the need for traders to purchase the underlying asset. As a result, the combination of stronger spot accumulation and futures outflows gave this breakthrough attempt a very different structure from a leverage-driven rally.
From a technical perspective, HYPE faces direct resistance between the current price and the confirmation of a breakthrough of US$57. Its 100-day moving average is around $56.65, while another short-term moving average is around $56.87. If it continues to stand above US$57, the area may turn into support and strengthen the token recovery structure. In addition, buyers will then face another major hurdle near the 50-day moving average (approximately $60.69). Breaking through the US$60 to US$61 range may cause HYPE to hit the US$64 to US$66 range. However, negative short-term spot flows may limit this scenario unless buying pressure increases again.
In addition, the rising 200-day moving average (approximately US$50.94) provides an important area of support below HYPE's current market prices. HYPE spot flow increased 353.49%, strengthening the upward trend around US$57, while declining futures exposure reduced the role of leverage. Still, holding above $57 remains crucial to confirming that spot buyers can support a broader recovery.
