Three Things to Know U.S. regulators cleared the way for perpetual futures on single stocks, a move that touches Hyperliquid's planned ICE-linked venue. HYPE is coiling above its key moving a
Federal regulators have signaled they are ready for regulated stock perpetuals. That decision could speed up a planned U.S. market built on Hyperliquid's technology.
HYPE has held its ground through a shaky week for Bitcoin and Ether, and its chart is tightening. Aave keeps sliding with no catalyst in sight. Traders now want to know whether Hyperliquid can turn regulatory goodwill into a breakout, and whether Aave's sellers are finally running out of steam.
The Commodity Futures Trading Commission said on Nov. 3 that perpetual futures on individual stocks can begin trading. The contracts must list on registered contract markets that the Securities and Exchange Commission also recognizes. Perpetuals have no expiry date, and until now U.S. traders reached them mostly through offshore crypto venues.
Hyperliquid stands close to the ruling. Intercontinental Exchange announced on Oct. 29 a plan for a regulated U.S. perpetual futures market built on Hyperliquid through TradeXYZ. That plan still needs CFTC approval. The agency's new stance makes that approval look like a shorter step.
Crypto markets gave little help. Bitcoin fell nearly 2% on Nov. 4 and slipped below $76,000. That left it sitting on its 200-day exponential moving average, a long-term trend gauge many traders watch. Early midterm results pointed to Democratic gains, and risk appetite cooled. Ether traded near $2,255 that day, below both its 100-day and 200-day averages.
Hyperliquid (HYPE) daily price with the nearest support (green) and resistance (red). Source: TradingView
Hyperliquid's token traded near $85 on Wednesday, flat over 24 hours. That is above the $81.73 level seen on Nov. 4. The token has gained about 5% this week, though it remains down about 6% for the month.
The bigger picture looks steadier than that monthly figure suggests. HYPE holds above its 50-day average near $83, which tracks the mean price of the past 50 sessions. It also trades well above its 200-day average, near $69. Both lines now sit under the price and act as floors, which points to a pause within an uptrend.
Momentum readings leave room for more. The relative strength index (RSI), a 0 to 100 gauge of momentum, stands at 53. That is a neutral reading, far from the overheated zone above 70. Buyers have space to push before the token looks stretched.
Other signals lean the same way. The MACD, a tool that compares short and long price trends, sits above its signal line, so momentum is improving. Trend indicators show a move forming, with buyers in control.
On the daily chart, the first hurdle sits near $88. A daily close above that level would mark the breakout traders are watching. Above it, resistance near $95 capped earlier rallies.
The floor below is tight. Support near $82.60 sits almost on top of the 50-day line, so the two levels reinforce each other. A slip through both would expose the next support near $76, a deeper drop of roughly 10%.
That narrow band between support and resistance explains the coiling price action. The CFTC news gives buyers a reason to test the upper edge first.
Aave (AAVE) daily price with the nearest support (green) and resistance (red). Source: TradingView
Aave tells the opposite story. The lending token traded near $122, up about 1% on the day. That small gain does little to repair a week in which AAVE fell about 15%. Over the past month, the token has lost roughly 24%.
The averages confirm the damage. AAVE sits below its 200-day average near $126. It is also well under its 50-day line, near $144. Both now act as ceilings. Trend indicators show a real downtrend, with sellers firmly in charge.
RSI has dropped to 29, just inside oversold territory. Readings this low often come before a relief bounce, as sellers run out of fuel. The MACD still sits below its signal line, though. Momentum has not turned yet.
Any rebound faces quick tests. The first resistance sits near $134, a short climb above the 200-day line. Buyers would need to clear both to change the tone. A second barrier stands near $146, close to the 50-day average.
The downside looks more open. Support sits far below, near $93, with a second floor near $87. A failed bounce would leave a wide air pocket under the price. AAVE lacks a regulatory catalyst like Hyperliquid's, and capital appears to be leaving.
Both tokens now sit near levels that should decide the next move.
Hyperliquid holds the stronger hand. Its chart sits above both key averages, and the CFTC stance gives its ICE-linked venue a clearer path. AAVE remains a bounce candidate only, with oversold readings and little else in its favor.
Bitcoin poses the shared risk. A decisive break under its 200-day average could pull both tokens lower, whatever Washington decides.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
