Hyperliquid Surges Past $96, Reaches All-Time High

Hyperliquid's price has reached an all-time high of approximately $96, surpassing previous levels. This surge comes after a strong September rally and puts the psychological $100 level within reach.

The technical structure remains optimistic, with Hyperliquid trading above major moving averages on its daily chart. The recent recovery from the $77-$78 range has also contributed to the price increase.

One factor supporting Hyperliquid's growth is the introduction of manual borrowing, allowing users to borrow USDC and USDT using HYPE and BTC as collateral. This move has led to significant activity on the platform, with over $269 million borrowed on the first day and more than $400 million in liquidity supplied.

Several scenarios are possible for Hyperliquid's continuation: direct price discovery, consolidation, or a more thorough test of support levels. The Relative Strength Index (RSI) is high but still below extreme levels seen during earlier rallies.