Hyperliquid rebounds from $75 as traders watch $83 resistance

Key takeaways

• HYPE rose 1.9% over 24 hours after rebounding from support near $75.
• The token must push above $83 to reinforce the case for a rally.
• A breakdown beneath $75 exposes the 200-day EMA around $67.50.

Hyperliquid’s native token, HYPE, registered a 1.9% gain over the past 24 hours after finding support around $77, offering buyers an opportunity to halt a drawdown that has been underway since late September.

That same region provided support for HYPE in mid-September before the token rallied toward an all-time high. The latest bounce indicates that buyers are stepping in once again near those levels, though a broader trend reversal has yet to be validated.

The token’s immediate hurdle sits at $83. Clearing this resistance would brighten the short-term technical outlook and bring a secondary target near $89 into play.

HIP-3 market volume provides underlying stability

Despite a decline in overall open interest, trading activity across Hyperliquid’s HIP-3 markets has remained relatively steady.

Open interest across the broader Hyperliquid network dropped roughly 11% from its September 13 peak of $9.1 billion. However, analysis shows that the drop across HIP-3 markets has been far milder over the last fortnight.

The HIP-3 framework enables trading for assets outside traditional crypto, including equities and commodities. According to Hyperliquid Stats, weekly trading volume surged roughly 58%, climbing from $12.4 billion in the week ending October 4 to $19.6 billion the following week.

While this expansion highlights increased engagement in non-crypto instruments, volume figures alone do not directly clarify how much demand is generated for the HYPE token itself.

Broad market sentiment also faces potential turbulence tied to the Federal Reserve’s upcoming rate decision and macro guidance.

CME FedWatch data reflects a 9% probability of an interest rate hike at the upcoming meeting, with over three-quarters of surveyed analysts projecting a rate increase in December.

Sticky inflation figures and crude oil trading above $100 have fed ongoing debate over the path of monetary policy. A tighter policy stance could weigh on broader risk appetite, whereas less aggressive guidance could offer relief to risk assets.

Market-based expectations and economic projections can adapt quickly as fresh data arrives.

Hyperliquid technical forecast: HYPE needs to reclaim $83

While HYPE’s rebound from $75 signals preliminary demand, the resistance zone at $83 remains the key milestone for bulls.

A persistent move above $83 would strengthen evidence that the correction is yielding to a sustained recovery. Should buying pressure hold, technical analysis points to $89 as an immediate target.

The Relative Strength Index (RSI) remains at 39—below the neutral 50 threshold—indicating that sellers maintain control over the broader momentum. While the RSI is drifting toward its signal line, a simple bullish cross does not independently confirm a trend change.

If HYPE fails to defend $75, the next notable technical floor is the 200-day Exponential Moving Average, situated near $67.50.