According to latest data from crypto.news, Hyperliquid (HYPE) is currently trading near $80.50 after reaching an all-time high of approximately $83.27 over the weekend. The token opened the seven-day period around $69.60, leaving it with a double-digit weekly gain even after traders took profits near the record. The rally accelerated on August 19, when HYPE jumped from below $60 to around $70, with buyers extending the move over following sessions to push the price through previous June and July peaks near $75. The 4-hour chart shows buyers have repeatedly entered during declines toward $77–$78, but sellers continue to defend the area between $82 and $83.50.
President Donald Trump made his ninth cryptocurrency endorsement on Wednesday, naming Hyperliquid (HYPE) at the White House while hosting executives from Coinbase, Ripple, and Nasdaq. According to reports from BeInCrypto, Trump stated during the meeting, 'I understand that Mike is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion.' The token jumped 14% within two hours of the announcement, with Hyperliquid Strategies, a Nasdaq-listed company holding HYPE in its treasury, closing 30% higher on its best day on record. HYPE now trades near $71.45, up 21.3% over 24 hours, and ranks tenth by market cap at $15.9 billion.
The daily chart shows HYPE trading just below the 100% Fibonacci level at $83.52, calculated from the advance between approximately $25.64 and the current record area. A confirmed daily close above $83.52 would place HYPE in price discovery, with the psychological $90 level becoming the next target, followed by $97–$100 if momentum remains strong. Crypto analyst Havoc noted that HYPE was printing its second-largest monthly candle, with a gain of roughly 63%, and matching May's 91% monthly expansion would place the token near $97 by the end of August. However, the daily relative strength index reached 74.91, above the 70 level commonly associated with overbought market conditions, indicating that new buyers are entering after a steep advance.
The rally coincided with reports of further adoption of Hyperliquid's trading infrastructure, including integration work involving Coinbase and the unveiling of Elysium L2 for the ecosystem. Broader strength across the cryptocurrency market also supported demand for higher-risk altcoins. HYPE's rise came as falling US Treasury yields improved conditions for risk assets, with the 30-year Treasury yield declining after the US Treasury expanded its long-dated bond buyback operations. The moving average convergence divergence indicator remains bullish, with the MACD line at 5.89 above the signal line at 3.28, while the positive histogram reading of 2.61 shows upward momentum is still intact.
Despite the bullish technical structure, several risk factors could impact HYPE's momentum. CoinGlass' 24-hour liquidation heatmap shows the token positioned between several concentrated leverage zones, with the closest upside liquidity resting above $82 and additional bands between roughly $82.50 and $84. A move through $82 could force leveraged short sellers to close their positions, potentially accelerating another test of the record. Downside liquidity has built around $80, $79.30, and $78.40, with larger liquidity pockets visible around $76–$77. The combination of an overbought daily RSI and heavily loaded derivatives positions creates two-way risk, with a daily close below $77 potentially extending the correction toward $73 and $71.14.
