Hyperliquid Eyes $100 as Price Holds Key Support Levels

Hyperliquid (HYPE) is currently trading near $93, with buyers aiming to extend a recovery toward its recent high around $98, keeping the $100 mark in sight. The token has been consolidating above the $88, $90 range, and technical indicators suggest an upward trend. However, short-term momentum has become stretched, making the $92, $93 area crucial for sustaining the advance.

On October 5, HYPE was priced at approximately $93.09, up 3.3% from the previous session, with a daily range of $89.63 to $93.73. Its 52-week range spans from $20.51 to $97.98. The bullish structure points to a potential Point C target zone between $98 and $100.80, according to TradingView contributor SmellyTaz.

TradingView analyst RLinda highlights $91.95, $92 as a key breakout area, with subsequent resistance at $97.80, $100, and potentially $110. RLinda also notes that Bitcoin’s strength supports the broader altcoin market. Technical indicators remain positive, with a strong-buy consensus and no sell signals. However, momentum readings like Stochastic %K and Williams %R are in overbought zones, suggesting possible consolidation or a short-term pullback.

The fundamentals of Hyperliquid, including its expanding utility in the decentralized derivatives sector, provide context for its price movement. HYPE is used for staking, governance, and transactions on HyperEVM, with staking offering trading-fee discounts. As of October 5, HYPE’s market capitalization was around $20.1 billion, with a daily trading volume of approximately $456.9 million.

The next directional signal for HYPE will likely come from how price behaves around $92, $94. A decisive move above $94 could target $98 and $100, while a failure below $92.50 might expose the $90 support zone.