Hyperlabs HYPE token unlocking attracts attention at key support levels

TLDR：

HYPE Token Unlock sends new supply to exchanges

HYPE Token Unlock faces bearish technical prospects

HYPE Token Unlock returns 433,025 tokens (worth more than US$23 million) to Hyperlabs, with transfer records tracked online exacerbating market concerns about supply.

Wallet monitoring showed that 165,000 HYPEs were transferred to Flowdesk, and another 90,000 tokens were sent to OKX and Bybit, some of which were reportedly converted to USDC.

HYPE's current trading price is US$54.76, down 3.5% during the day, and a US$1.83 million long liquidation highlights the pressure on bullish derivatives positions.

Resistance above the daily triangle pattern is at US$67.65 and US$76.88, while if a break below the lower boundary is confirmed, focus on US$44.52 and US$35.39.

Hyperlabs has redeemed 433,025 HYPEs from pledge, bringing under its control tokens worth more than US$23 million. The HYPE token unlock attracted attention because the tracked wallets transferred some tokens to Flowdesk and exchanges.

On-chain monitoring agency Lookonchain said that these transfers may signal an intention to sell, but wallet movements cannot confirm whether each token has entered the market.

HYPE was quoted at US$54.76, down 3.5% in 24 hours, and trading in the range of US$53.65 to US$56.94.

HyperLabs has unlocked another 433,025 HYPEs (worth US$23.46 million) and has gradually deposited the tokens on exchanges, including Flowdesk and OKX, likely to be sold.

The token currently faces additional supply concerns, while long liquidations dominate daily derivatives losses. This Hyperliquid price forecast places HYPE near a decision point within the symmetrical triangle of the daily chart.

HYPE token unlocking sends new supply to the exchange

Lookonchain reported that Hyperlabs completed the redemption after the pledge release process was completed. The monitoring agency initially valued the tokens at approximately $23.46 million. An on-chain update shows that these tokens are scattered among nine wallets. Their flow paths have attracted the attention of traders tracking the supply of potential exchanges.

Monitoring then linked 165,000 HYPEs (worth approximately US$9.23 million) to Flowdesk. Market data shows that 75,000 tokens were exchanged for USDC on Hyperliquid. Another 90,000 coins were transferred to deposit addresses associated with OKX and Bybit. Flowdesk is a market maker, not a centralized exchange.

This HYPE token unlock includes confirmed transfers and inferred intention to sell. Depositing assets on exchanges makes them easier to sell, but its ultimate use cannot be determined. Hyperlabs has not yet explained the full purpose of the event. Operational liquidity, market-making or planned allocations may explain other transfers.

This unlocking increases available supply during periods of weak demand. According to SoValue data, HYPE ETF products recorded a net outflow of approximately US$15.16 million in July. Since July 15, these products have only had two days of net inflows and about nine days of net outflows. This model weakens a channel that previously absorbed market supply.

Even so, the scale of HYPE token unlocking this time is small compared to the overall supply of tokens. Currently, the number of HYPE in circulation is 222.446 million, with a maximum supply of 1 billion. The unlock also pushed treasury holdings to approximately 19.7 million tokens. Due to the different classification of liquidity and pledge holdings, market tracking data may differ.

has a market value of approximately US$12.2 billion. Hyperliquid's total locked value was approximately US$6.27 billion, allowing it to maintain its scale advantage among the decentralized derivatives platforms at the time.

HYPE token unlocking faces bearish technical outlook

Hyperliquid price forecast places HYPE within a symmetrical triangle where the rising support line intersects the resistance line. This structure means compression, not definite direction. Before the mentioned target price takes effect, volume must confirm a boundary breakthrough.

An upward breakout will hit $67.65, followed by $76.88. The Wolfe Wave projection in the chart then extends to the $91 to $92 range. This scenario requires prices to break through the upper boundary with continued trading volume.

Conversely, encountering obstacles at the upper trend line may cause HYPE to fall back to triangular support. If a break below is confirmed, focus on $44.52, followed by $35.39. HYPE prices are close to $54, making neither path clear. Prices have not confirmed any outcome.

The unlocking of HYPE tokens has added fundamental pressure to this technical form. Tokens available on exchanges may deepen supply pressure near resistance levels. However, the impact depends on how quickly buyers absorb the sell. Transfers from market makers may not immediately enter the public order book.

CoinGlass data supports a cautious short-term tone. The total 24-hour liquidation was US$2.1 million, of which long liquidation was US$1.83 million. Short liquidation during the same period was approximately US$271,070. This imbalance suggests that falling prices punish bullish leverage more severely.

Binance led the way with futures volume of $406.74 million, followed by LBank's $287.71 million. Hyperliquid recorded $275.38 million, while MEXC and Bybit recorded $193.48 million and $159.88 million respectively. Concentrated trading activity may amplify reactions around triangular boundaries.

This HYPE token unlock coincides with an intraday low of US$53.65. Falling below this level will turn attention to the lower boundary of the triangle. As the uptrend line rises, the boundary moves upward on the chart.