Hyperliquid Whale's Aggressive Buying Pushes Price Towards Key Resistance

Hyperliquid's (HYPE) price has been consolidating near $82 to $84 after a sharp rally. A large whale continues to accumulate HYPE, making aggressive buys worth approximately $11.88 million and adding to its previous purchases of nearly $20.24 million in the past few days.

The whale bought 141,442 HYPE on August 29, following purchases of over 387,952 HYPE between August 25 and 27 through various exchanges such as Hyperliquid, OKX, Bybit, and Gate.

This accumulation amounts to a total of 773,107 HYPE worth roughly $63.6 million. The repeated purchases suggest that the wallet is steadily increasing its HYPE exposure.

Despite the whale's aggressive buying, the open interest has been trending lower on the chart, indicating short covering and deleveraging during the rally rather than a fresh wave of leveraged longs entering.