Hyperliquid Price Eyes $57.30 Breakout on Q2 Buyback Rebound

The Hyperliquid (HYPE) price has climbed above $56.80 after recovering from an early-August low around $51.20, gaining about 2.5% over 24 hours.

This rebound has lifted HYPE roughly 11% from its weekly low, although its net seven-day gain remained closer to 3.7%. Trading volume stood near $250 million over the previous 24 hours.

The protocol reported $169 million in quarterly revenue and said $141 million was directed toward HYPE buybacks in Q2.

The daily chart shows a potential breakout from a descending channel, but momentum is nearing overbought levels. A close above $57.30 would open a path toward $60, while rejection and a break below $54.40 would bring $52 and $50 back into focus.