Hyperliquid (HYPE) trades around $93, with analysts aiming to exceed $100 if support is solid

Hyperliquid (HYPE) Price Analysis: Support is solid, analysts target looks at US$100

On October 5, Hyperliquid's native token HYPE trading price was approximately US$93.09, up 3.3% from the previous trading day and tested the highs of its recent trading range. The token showed resilience above the support area of US$88 to US$90, with technical indicators generally pointing to a continued upward trend in the context of continued short-term momentum.

HYPE gains support above US$90, testing resistance

During this trading session, HYPE's price fluctuations range from US$89.63 to US$93.73. Data shows that HYPE's 52-week trading range is US$20.51 to US$97.98, with its recent high hitting September 23. After this peak, HYPE pulled back and consolidated in the range from the late 1980s to the mid-1990s in the following trading days.

During this period, the US$90 technical support level played a key bottom role. Analysts pointed out that if we continue to stand above $92, a bullish higher-low structure will be maintained; while any break below $90 may imply a weakening of momentum.

TradingView analyst SmellyTaz described the current market pattern as a bullish sequence that begins in response to the $80 to $84 demand area. The analysis pointed out that US$90.914 is a key structural turning point, and as long as prices remain above this level, bullish logic will be maintained.

SmellyTaz's analysis emphasizes that as long as HYPE trades above US$90.914, the upside is still open, with an initial target in the range of US$92.50 to US$94.00, and a further target forecast is around US$98.00 to US$100.80.

Another TradingView contributor, RLinda, identified US$91.80 to US$92.00 as a breakthrough area, with expected resistance levels of US$97.80 and US$100 respectively. If the rebound is stronger, it will reach US$110. RLinda also pointed out that Bitcoin's strength may provide additional support for the altcoin market.

It should be noted that these goals are not set results, and price performance in the US$93 to 94 region will be the first important hurdle faced by buyers.

Technical momentum remains strong

Technical indicators continue to show that HYPE is in a strong overall state. According to data sources, there are currently nine signals pointing to buy, and none of them indicate sell. The Relative Strength Index (RSI) was 68.50, slightly below the typical overbought threshold of 70, and the MACD remained in positive territory. The average directionality index (ADX) reading was 57.53, highlighting the strength of the current trend.

However, short-term readings indicate that the token is approaching overbought conditions. The random indicator %K is above 80, and the Williams indicator (Williams %R) also enters the overbought area. This does not mean an immediate reversal, but suggests that further consolidation or a brief pullback cannot be ruled out.

Although momentum remains positive, short-term indicator signals suggest that HYPE may pause or correct before heading higher again.

The moving average strengthens the preceding trend, with the 10, 20, 50, 100 and 200 cycle moving averages all below the current price. The exception is the five-cycle simple moving average, which reflects recent short-term fluctuations.

The pivot point is centered around US$93.32, and the resistance levels are US$93.79, US$94.08 and US$94.56 respectively. Support levels appear at $93.03,$92.55 and $92.26. The $92.50 to $94.00 area is seen as a key area for the next move.

Fundamentals and Network Utilities

The value of HYPE is supported by the expanding capabilities of Hyperliquid Networks. Hyperliquid is a Layer-1 decentralized derivatives platform with HYPE as its native token that supports pledge, transaction fees, governance and security through a Proof-of-Interest (DPoS) mechanism.

HYPE holders can delegate tokens to verifiers for pledge to enhance network security and unlock transaction fee discounts. Higher pledge balances correspond to greater transaction fee reductions, and fees arising from the agreement are directed to community funds, including aid funds.

最近的市場数据显示，HYPE的市值约为201亿美元，24小时交易量接近4.569亿美元，反映出投资者对该领域的浓厚兴趣。

小词典：Hyperliquid

Hyperliquid是一个专注于衍生品交易的去中心化Layer-1区块链平台，旨在为数字资产提供高速、可扩展且成本效益高的交易基础设施。其委托权益证明共识机制使用户能够在验证交易和参与治理的同时质押代币。

展望：重点关注下一步的关键水平

目前，只要HYPE维持在90.914美元枢轴点上方，并保持在92至93美元的区间内，技术结构看起来是建设性的。突破94美元可能为瞄准近期97.98美元的高点铺平道路。超越该水平将使心理关口100美元及100.80美元成为下一个阻力区。

如果动能疲软且92.50美元的支撑位失守，价格可能会重新测试90美元附近的支撑，甚至可能触及88美元。HYPE仍接近其近期高位， forthcoming（即将到来的）在92至94美元窗口内的价格走势很可能决定其下一个方向。