Hyperliquid Price Forecast – HYPE Eyes $37 Rally as Options Launch Could Boost Demand

Highlights:

• Hyperliquid is range-bound between the $35.86 resistance and the $32.27 support
• Bullish sentiment is rising, which increases the potential for a rally through $35.86
• Rally could be triggered by the upcoming launch of options on Hyperliquid 

Hyperliquid (HYPE) is in the green on a day that the average top 100 cryptocurrency is deep in the red. While Bitcoin is down by over 7% intraday, HYPE has gained marginally by 2.99% to trade at $34.46. Hyperliquid trading volumes are also showing an opposite trend to the rest of the market. While the average cryptocurrency has seen a surge in volumes in the last 24 hours, HYPE’s volumes are down by 20.57%. 

This drop has brought total intraday volumes to $792.1 million. The upside price tick and dropping volumes are an indicator that the average HYPE holder is not panic-selling. They are holding on to the HYPE tokens in expectation of more sustained gains going into the future. There are several positive factors that are helping HYPE hold the line while the rest of the cryptocurrency market is crashing. 

Rising Activity On Hyperliquid Driving Positive Price Action

One of them is the fact that in times like these of market volatility, trading activity tends to rise. Both centralized and decentralized exchanges have seen an upsurge in activity as investors rush to long and short the ongoing price action.

Given that Hyperliquid is one of the largest DEXs in the market today, this naturally means more activity. By extension, this means value gain for HYPE, since it is the token underlying the entire Hyperliquid ecosystem. Still related to the ongoing market volatility is the fact that investors have increasingly come to trust DEXs over centralized exchanges when it comes to trading in high volatility periods.

Most of the crypto market has been rough lately with prices dropping and people losing confidence but @HyperliquidX has been one of the few bright spots.

While others struggle, its platform keeps growing, with lots of activity and new users joining.

New features are letting… pic.twitter.com/is9ooLQff3

— MB (@MBxxvv) February 5, 2026

That’s because DEXs like Hyperliquid have more transparency on liquidations and related aspects to it. On this front, Hyperliquid has also won the trust of the average investor over time. As such, with the ongoing price action across the cryptocurrency market, the Hyperliquid platform could continue to attract more traders. This is likely to continually grow the demand for HYPE since it is used for paying fees on the platform. The result is that the HYPE token could soon see a retest of recent highs even as the broader market continues to show weakness. 

Hyperion Planning Options Strategy

Hyperliquid is also drawing investor attention after a big move by Hyperion, the company behind HYPE. Hyperion, which now trades on the Nasdaq as a HYPE treasury and holds 1.8 million HYPE tokens, has announced an options strategy. In a bid to grow revenues outside of HYPE staking, the company wants to leverage its vast HYPE holdings to allow traders access to options on the Hyperliquid platform.

Hyperliquid treasury seeks revenue boost using $HYPE holdings as options collateral

— unfolded. (@cryptounfolded) February 4, 2026

Under the arrangement, the company will provide collateral and earn fees from writing and settling options. This cuts its reliance on market speculation as the primary way to earn. For the HYPE token, this is a big deal as traders would now have access to one more trading instrument.

Given how popular options trading is, this could generate a significant amount in fees, which translates to real demand for HYPE. At the same time, the tokens used as collateral will be locked in the options vault, which could alter HYPE demand and supply dynamics in favor of bulls. 

Technical Analysis – HYPE Consolidating But Buyers Pushing For Resistance

HYPE is still trading in a multi-day range between the $35.86 resistance and $32.27 support. However, bulls appear to be gaining control, which puts the $35.86 resistance in focus. If bulls gain enough momentum and push HYPE through the $35.86 resistance, a rally to $37.93, or even higher, could follow.

On the other hand, if bears take control and push HYPE through the $32.27 support, a drop to prices below $30 could follow. Of these scenarios, a rally to $37 and higher is more likely. This is due to the announcement by Hyperion that it is introducing options trading.