adminIn recent developments, key takeaways Hyperliquid holds steady around $40 on Thursday, up 1.1% in the last 24 hours. The negative funding rate gives HYPE a mixed signal in the market. Hyperliquid (HYPE) is trading around $40.95 at press time on Thursday, stabilizing after a 3%+ gain in the previous session. While the decentralized exchange (DEX) token has managed to hold recent levels, weakening retail demand in the leverage market and a developing rising wedge pattern on the chart are keeping the broader outlook neutral-to-bearish. HYPE’s futures market suggests a cooling demand HYPE initially attracted strong retail interest during heightened geopolitical tensions around the US–Iran situation and the Strait of Hormuz, as its platform enabled 24/7 trading of commodities such as oil and precious metals. However, as geopolitical pressure eased following signals of extended diplomatic timelines, speculative interest in the token has started to fade. Data from CoinGlass shows HYPE futures open interest at about $1.63 billion, moving mostly sideways—an indication that trader participation has plateaued. Meanwhile, the funding rate sits at -0.0061%, suggesting a growing tilt toward short positioning as traders increasingly bet on downside risk. Technical outlook: Bears could push the price lower The HYPE/USD 4-hour chart is bearish and efficient as HYPE remains supported above both the 50-day Exponential Moving Average (EMA) near $38.46 and the 200-day EMA around $34.51. The 4-hour structure is forming a rising wedge pattern, typically considered a bearish setup when momentum weakens. The momentum indicators also paint a bearish picture. The MACD remains in negative territory, signaling fading bullish strength, while the RSI at 47 reflects a growing bearish condition. If the sellers remain in control, they would encounter immediate support at the trendline near $40.33. A break below this level could open a path toward the 50-day EMA at $38.46, followed by stronger support near the 200-day EMA at $34.51. However, if the bulls push higher, resistance is first seen at $43.71, with further upside capped near $45.77 at the upper trendline boundary. The post Hyperliquid (HYPE) holds above $40 as futures activity stalls appeared first on CoinJournal.
Looking closer, market participants highlight key drivers such as liquidity flows, macro risk appetite, regulatory headlines, and on-chain activity. Short-term swings often reflect liquidation cascades and funding imbalances, while spot volumes and exchange inflows set the broader tone.
Analysis: The medium-term picture hinges on whether buyers can sustain momentum without excessive leverage. If flows continue favoring majors like BTC and ETH, altcoins could experience a staggered rotation instead of a broad-based rally. Meanwhile, policy clarity in key jurisdictions remains a decisive catalyst; clearer rules typically compress risk premia and attract institutional allocations. Beyond price action, on-chain metrics such as active addresses, fees, and stablecoin velocity help validate trend strength.
Outlook: Over the next few weeks, observers will watch price acceptance above recent resistance, derivatives positioning, and ETF-related flows. A constructive setup would feature rising spot demand, contained leverage, and improving breadth across sectors such as DeFi, infrastructure, and Layer-2 ecosystems.
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