Hyperliquid (HYPE) tests $46.22 ascending-channel resistance; outpaces top-10 cryptos as on-chain perpetuals leader

first published 2026-04-13T11:47:25Z

HYPE traded at $41.5 (up ~12% week, >70% from YTD low) after Bitwise amended S-1 for a spot Hyperliquid ETF (BHYP) and Deutsche Börse Xetra launched a Hyperliquid Staking ETP. Volume surged as users traded tokenized oil perpetuals amid Strait of Hormuz tensions, pushing crude open interest on the platform above $1B and supporting the protocol’s buyback (up to 97% of fees used to buy and burn HYPE). Daily technicals show a bullish flag breakout, green Supertrend and RSI ~63, implying upside toward $56 if momentum holds; a drop below $37 would invalidate the setup. Anticipation of the HIP 4 upgrade (native prediction markets and binary options) is an additional catalyst.

AI Analysis

Price rose ~12% for the week and >70% from YTD low; Bitwise amended an S-1 for a spot Hyperliquid ETF and a Hyperliquid Staking ETP launched on Deutsche Börse Xetra. Trading surged with tokenized oil perpetuals pushing crude open interest above $1B, which supports the protocol’s buyback mechanism (up to 97% of trading fees used to buy and burn HYPE). Technicals: daily bullish flag breakout, green Supertrend and RSI ~63 with a $56 upside target and $37 invalidation level. HIP 4 upgrade (prediction markets and binary options) is cited as an additional catalyst.

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