HYPE Price Teeters on Breakout Past $90 Amidst Hyperliquid's Dominance

The price of HYPE has reached a critical juncture as it attempts to break past $90. According to analyst Crypto Patel, a sustained breach of this level could support further upside to $100 and beyond.

Hyperliquid, the platform behind HYPE's perpetual futures trading volume, recorded nearly $240 billion in trades over the past 30 days. This puts it at the top of public chains and ecosystems for perpetual futures trading volume during that period.

A whale has been accumulating large quantities of HYPE, withdrawing over $9 million from Coinbase over nine days. The current price is around $86-$87 after rebounding from the $75-$77 region earlier this week.

Hyperliquid's dominance in perpetual futures trading volume and the whale accumulation are likely contributing to the price increase. However, analyst Crypto Patel cautions that failure to reclaim the $90 level could send HYPE back toward the $60-$50 support zone.