Crypto Whales Pour Millions into Hyperliquid (HYPE) Token as Market Uncertainty Persists!

Crypto Whales Pour Millions into Hyperliquid (HYPE) Token as Market Uncertainty Persists!

The ongoing market uncertainty has led to significant dips across most cryptocurrencies, presenting what many see as discounted buying opportunities. In this environment, crypto whales have set their sights on Hyperliquid (HYPE) as a promising investment, pouring millions of dollars into the asset.

Whales Invest $12.5 Million in HYPE Tokens

According to blockchain transaction tracker Lookonchain, large investors have purchased $12.5 million worth of HYPE tokens in the past 48 hours, signaling strong confidence in the asset. This influx of institutional interest has also influenced intraday traders, who are increasingly betting on long positions, as reported by on-chain analytics firm Coinglass.

At the time of writing, long positions dominated trading activity, reinforcing the bullish outlook.

Key Market Levels and Trader Sentiment

Further analysis reveals that traders betting on the long side are over-leveraged at $19.68, with $3.09 million worth of long positions currently open. Meanwhile, short traders are over-leveraged at $21.50, with $1.25 million in short positions at that level.

Given the combination of whale accumulation and leveraged trading activity, HYPE appears to be gaining strong bullish momentum.

HYPE Price Surges 13% Amid Growing Optimism

This rising interest has positively impacted HYPE’s price, driving it up over 13% in the past 24 hours. At press time, HYPE was trading near $21, fueled by consistent whale purchases and bullish sentiment.

Key Technical Levels and Potential Price Targets

Following a 26% price drop, HYPE has reached a critical support level at $19.80, a historically strong zone for price reversals. Technical analysis from AMBCrypto suggests that whenever HYPE touches this level, buying pressure tends to increase significantly, likely explaining the recent wave of whale accumulation.

If HYPE maintains support above $19.80, there is a strong chance it could rally 20% higher to reach $25.50 in the near term. However, the Average Directional Index (ADX) currently sits at 15, indicating weak momentum strength at this stage.

Conclusion

With whales accumulating large amounts of HYPE, intraday traders leaning bullish, and a key support level in play, the asset appears poised for potential further gains. If buying momentum continues, HYPE could soon attempt to reclaim higher price levels, making it one to watch in the current market cycle.