Hyperliquid (HYPE) is seeking to maintain a key support zone between $51 and $53, a level that could determine its short-term price trajectory. Despite a recent pullback, analysts are watchin
Hyperliquid (HYPE) is seeking to maintain a key support zone between $51 and $53, a level that could determine its short-term price trajectory. Despite a recent pullback, analysts are watching this area closely for signs of a bullish reversal if buying pressure intensifies.
At the latest available prices, HYPE is trading at $54.50 with a 24-hour volume of $312.72 million and a market capitalization of $13.76 billion. The token experienced a 3.01% decline over the last day, but market observers see continued growth in both price structure and network activity.
Crypto analyst Chiefrat identified the $53–$51 support region as essential for the next directional move, suggesting that HYPE may be forming Wave 4 in an Elliott wave sequence. This technical structure points to a potential bullish expansion if buyers maintain support at these levels.
If the support holds and positive momentum builds, HYPE could establish a higher low, setting the stage for a move toward the $90–$100 target area. However, a breakdown below $51 on a weekly basis could invalidate this scenario, potentially leading to further downside.
“Any successful defense of the range between $51 and $53 may open up the door for a Wave 5 move, with the charts suggesting that the next major target lies somewhere between $90 and $100.”
Recent data from MSB Intel revealed that Hyperliquid has burned 47.53 million HYPE tokens, valued at approximately $2.68 billion based on current prices. This reduction amounts to 4.75% of the total HYPE supply, further supporting the token’s scarcity narrative.
The aggressive burn program is designed to limit circulating supply over time, potentially creating favorable conditions for price growth if market demand continues to rise. Market observers note that long-term tokenomics are likely to benefit from sustained burns, provided investor interest and overall ecosystem expansion remain strong.
Tokens will continue to be burned, supporting supply reduction in periods of strong ecosystem activity and investor participation. However, supply cuts alone may not guarantee upward price movement, and broader market dynamics will continue to play an important role.
Despite these optimism-inducing fundamentals, HYPE’s price has recently moved downward. General sentiment in the crypto market appears to be improving, and a well-defended bounce from the current support zone could confirm bullish technical patterns for HYPE.
The coming period is likely to be shaped by how effectively buyers defend the crucial $51–$53 support. A strong upward rebound may validate technical targets toward the $90–$100 region. Conversely, a weekly close below $51 would put the positive outlook at risk and potentially signal a trend reversal.
Investors and market participants are watching the technical patterns closely and monitoring HYPE’s burn mechanism as part of the broader narrative on supply reduction and price sustainability. These trends mirror wider developments within the digital assets space, where platforms are prioritizing mechanisms to manage liquidity and drive adoption.
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