Hyperliquid (HYPE) stands out as one of the few major cryptocurrencies showing consistent strength, even while the broader market struggles. As Bitcoin, Ethereum, and most other large tokens face a downturn, Hyperliquid has continued to gain, distinguishing itself during what many see as the start of a bear market.
### What’s Behind Hyperliquid’s Rise?
Data from CoinGecko shows HYPE surged about 31% over the past week, briefly reaching toward $34 and hitting its highest price in over a month. It’s up around 17% in the last two weeks, with gains of 13% and 8% over the past month and year, respectively. In contrast, Bitcoin has fallen 12% over two weeks, 4% over the past month, and about 21% year-over-year.
Analysts point to key developments as the main drivers. Crypto analyst Elite Crypto highlighted the impact of Hyperliquid’s HIP-3 upgrade, which introduced permissionless perpetual contracts linked to real-world assets like gold and silver. Trading in these products has grown quickly, with silver-based contracts alone often surpassing $1 billion in daily volume.
Elite Crypto also noted signs of institutional accumulation, with decentralized trading strategies steadily increasing their holdings on the platform. Additionally, bullish reports from research firm Citrini and speculation about a potential HYPE ETF have further fueled interest.
### A Key Technical Test
From a technical standpoint, analysts are watching crucial levels. DeFi Guru observed that HYPE is testing its primary descending resistance, with recent price action showing impulsive, confidence-driven moves that suggest a shift in momentum. The analyst identified $30 as a key level to reclaim. A clear break above could open the path toward the next major target around $35, which aligns with the 0.618 Fibonacci retracement level.
Another analyst, Efloud, offered a more cautious outlook, identifying key support near $23.7. This level will be important in determining whether the rally continues. Efloud noted that price has already reached an intermediate resistance zone and would only consider short positions if bearish patterns emerge on shorter time frames, either at current levels or closer to the $38–$39 range.
Despite the positive trend, Hyperliquid has seen short-term volatility. Over the past 24 hours, HYPE has pulled back about 10%, falling to around $29. Analyst Ox Kaize views this dip as a normal market reaction, especially given recent developments affecting both gold and Bitcoin. He believes a recovery in those markets could provide further upside for Hyperliquid, potentially pushing the token toward $50.
More catalysts may be ahead. A second Hyperliquid airdrop is expected soon, and Kaize suggests the timing could be strategic, as distributing tokens while prices are below peak levels may support longer-term growth for the ecosystem.
Frequently Asked Questions
Of course Here is a list of FAQs about the topic Hyperliquid Surges Analyst Predicts Further Gains Eyes 35 Target designed to be helpful for both new and experienced users
Beginner Definition Questions
1 What is Hyperliquid
Hyperliquid is a decentralized exchange built for perpetual futures trading Its known for its high speed low fees and deep liquidity operating on its own custom blockchain
2 What does Surges mean in this context
Surges refers to a rapid and significant increase in the price of the Hyperliquid platforms native token HLP The article is reporting that the tokens value has risen sharply
3 What is the 35 target
A financial analyst or firm has published a prediction that the price of the HLP token could rise to reach 35 per token in the future based on their research and market analysis
4 Who is the Analyst mentioned
This refers to a specific research firm or individual who has published a report or made a public statement with this price prediction The original article should name them
Intermediate Benefit Questions
5 Why is Hyperliquids token going up
Price increases can be driven by several factors increased usage of the Hyperliquid platform positive news or partnerships overall bullish sentiment in the crypto market and specific analyst upgrades like the 35 target which can influence investor perception
6 What are the benefits of using Hyperliquid
Key benefits include very low trading fees fast transaction execution access to leveraged perpetual contracts and a userfriendly interface for advanced DeFi trading
7 Is this a good investment
This is not financial advice Analyst predictions are not guarantees While a 35 target suggests optimism cryptocurrency investments are highly volatile and risky You should always do your own research and only invest what you can afford to lose
8 Where can I buy the Hyperliquid token
HLP can be purchased on various centralized exchanges like Bybit KuCoin and MEXC as well as on decentralized exchanges that support it Always use reputable platforms