Hyperliquid Price Hits Resistance, Institutional Demand Remains Strong
Hyperliquid's price is facing headwinds as it stalls after a 10% gain last week. Despite this, institutional demand remains strong, with HYPE-focused Exchange Traded Funds (ETFs) recording their fifth consecutive weekly inflows, totaling $12.27 million last week.
James Seyffart, a Bloomberg ETF analyst, shared that leading financial institutions hold Hyperliquid, including Wealth High Governance, OLP Capital, UBS, Bank of Montreal, Jane Street, and others. This exposure to the DEX's native token reflects strong demand from large institutional investors.
The technical outlook for HYPE warns of potential downside risk as bullish momentum stretches thin. The Relative Strength Index (RSI) is around 64 on the daily chart, easing from the overbought zone. However, a decisive close above the upward-sloping trendline near $89.61 could open the path toward the $100 psychological threshold.
A confirmed breakout above the lower boundary of the near-term upward-sloping channel pattern at $82.40 could extend its correction toward the $76.93 Fibonacci anchor. Deeper pullbacks could test the 50-day Exponential Moving Average (EMA) at $71.55, reinforced by the 78.6% Fibonacci retracement at $70.51.