Hyperliquid Surges Past $80 as Open Interest Hits Record High

Hyperliquid (HYPE) has surpassed its prior price highs and reached a milestone not seen since October, with open interest exceeding $13 billion. This significant increase in exposure indicates that traders are taking on more risk by entering leveraged positions alongside rising prices.

The token's daily chart shows it breaking through the previous resistance area of $75-$77 and currently trading at around $79.30 after hitting about $82.50. The recent breakout was technically significant, as this zone halted multiple advances in June and July.

With volume increasing throughout the advance, HYPE has risen from about $56 to almost $80, leaving its major moving averages well behind. However, this combination also raises a short-term risk of aggressive deleveraging if the market reverses.

If previous resistance becomes support, $80 might establish itself as a new support level, with subsequent psychological targets at $85 and eventually $90. Conversely, if rejection occurs below $75, the next significant support cluster would be around $60-$63.