Hyperliquid (HYPE) Price Prediction: After a $8.6 million investment from speculative whales, is the rebound strong enough to set a new high?

Today (4) in the Asian early session, Hyperliquid (HYPE) has slightly retraced from last night's rebound, currently reporting at 39.33 USD. Signals from market sentiment analysis indicate that funds are tending to return to the entire market—this factor may play a key role in helping HYPE approach conquering its historical peak.

HYPE whale return, enhance bullish momentum

A "whale" that profited massively from HYPE has suddenly reappeared in the market within the past 24 hours, raising expectations of a new round of strong breakthroughs.

Whales (referring to investors with large amounts of assets) have always been able to stir up the market with a significant buy or sell operation. This time, a whale that profited as much as $8.44 million from Hyperliquid has made a return, causing a stir among investors. Specifically, this wallet address has just spent over $8.66 million to purchase 215,850 HYPE tokens—this number is enough to impact short-term supply and demand.

(Source: Hypurrscan)

This move quickly created a chain reaction, boosting the upward momentum of market sentiment. According to data from Bitcoin Magazine, the interest of futures investors in HYPE has significantly increased, as reflected in the rise in open interest.

Retail futures investors are vying to open long positions

A wave of retail investors is starting to return to the futures market, with most of them going long—this reflects a clear expectation that HYPE prices will continue to rise.

As of the time of writing, the funding rate of HYPE on CoinGlass has soared to 0.0084% in the past 24 hours, clearly indicating that trading momentum is heating up again. A rising funding rate typically reflects that buying pressure exceeds selling pressure, showing that bullish sentiment still dominates.

Moreover, market liquidity is also significantly improving. In the past 24 hours, the number of new open positions has increased dramatically, driving the open interest (OI) index, which measures the total value of active contracts, up by 4% to reach $1.84 billion.

The positive signals from the increase in financing rates and open contracts are strengthening the bullish trend in the derivatives trading market.

Trading volume has also continued to rebound, rising to 1.56 billion USD, reaching the highest level since June 26.

The significant increase in trading volume, coupled with price volatility, indicates that funds are strongly flowing back in. Among investors expecting quick profits from short-term gains, profit-taking activities have also become more active.

Will HYPE break through its all-time high?

The daily chart analysis shows that the HYPE is entering a critical stage, although market sentiment currently leans towards optimism.

Currently, HYPE is moving within an ascending triangle pattern — a technical structure that typically indicates the continuation of bullish momentum, defined by an upward sloping support line and a horizontal resistance line.

The price is currently approaching an important resistance zone. If the buying pressure is strong enough to overcome the selling pressure in that price range, HYPE has a chance to return to the historical high of $45.80.

In a bullish scenario, if the bullish momentum continues, the price could expand the upward range by another 41%, targeting the next goal around $56.

On the contrary, if market sentiment weakens, HYPE may continue to fluctuate within this triangular range for a longer time until a clear breakthrough occurs.

(Source: Trading View)