Hyperliquid Price Forecast – HYPE Likely Headed for A Rebound to $44

Highlights:

• HYPE is forming a double bottom at the $41.93 support
• Rallying off this support would put the $44.09 resistance in focus
• Strengthening fundamentals could trigger a rebound to $44 and higher

Hyperliquid (HYPE) is in the red today, reflecting the correction across the broader market. However, compared to most altcoins, Hyperliquid is fairing better, as most are down by double digits. When writing, Hyperliquid was down by 4.39% to trade at $41.99. Interestingly, trading volumes have shot up in the day, up by 25.03% to stand at $458.19 billion. 

This could be a pointer that short traders, especially highly leveraged traders, are exiting their positions. It could also be a hint that short positions are on the rise as the price drops. Such actions reflect a period of profit taking after HYPE’s recent rally that saw it go from $10 to prices close to $50. However, Hyperliquid is likely headed to new highs in the long term. Already, there is a confluence of demand factors that could push HYPE to new highs going into the future.

Stablecoin Reserves On Hyperliquid Hint at Growing Adoption

One of these factors is that USDC balances on the Hyperliquid network are on an exponential growth trajectory. Data indicates that USDC balances on Hyperliquid now stand at over $4.9 billion, double their level back in January. This suggests that DeFi perpetuals on the Hyperliquid platform are growing. Even bigger is that overall trading volumes on Hyperliquid point to its increased competitiveness relative to top centralized exchanges such as Binance.

HYPERLIQUID WEEKLY SNAPSHOT

Hyperliquid did a monstrous $86b weekly volume.
Huge USDC inflows of $937m, taking bridged USDC to $4.85b. Phantom perps integration did $500m volume from a soft launch, Kinetiq launched and had $470m hype deposited .
UNIT hit TVL record of $710m… pic.twitter.com/RBjpQtfKvz

— Hy-PURR-Liquid (@Hy_Purr_liquid) July 18, 2025

For context, data shows that Hyperliquid’s market share is now taking on the top centralized exchanges. This indicates that investors are increasingly choosing more transparent collateral, which Hyperliquid offers. As this shift grows in strength, so does the potential value of the HYPE token going into the future. The fact that Hyperliquid is increasingly taking on platforms like Binance also means that at current prices, HYPE is highly undervalued.

🚨 @HyperliquidX market share hits new ATH

– binance 46.4%
– bybit 31.3%
– hyperliquid 22.3%

source: @hypurrdash pic.twitter.com/KG0GkoBuVS

— nooman (@n01man) July 24, 2025

Hyperliquid Increasingly Attractive to High Leverage Traders

Hyperliquid already has several inbuilt advantages that give it the potential to take the big centralized exchanges head-on. Besides the fact that collateral is fully transparent, the Hyperliquid platform is cross-chain, offers low-cost transactions, and allows for highly leveraged trading, up to 50x in trades. The ability to significantly magnify gains through leverage in a transparent and regulated environment is a factor that could see Hyperliquid continue to record the strong adoption rate it has experienced so far. 

Trader engagement with the Hyperliquid token is also on the rise. Data indicates that open interest in the Hypeliquid token recently hit a high of $14 billion. This is a strong pointer to more investors looking to invest in HYPE despite trading at record prices. This rising investor interest, alongside growing adoption of the Hyperliquid platform, could send HYPE to new highs in the foreseeable future.

BREAKING :

Hyperliquid $HYPE has become a formidable force in decentralized finance, with its open interest soaring past $14 billion. The platform's highly optimized layer-1 infrastructure is proving irresistible to astute traders seeking to exploit arbitrage opportunities and… pic.twitter.com/6yeYq21lvd

— $HYPE (@hyperliquidnow) July 23, 2025

Technical Analysis – HYPE Forming Double Bottom After Recent Correction

Hyperliquid has been in correction for the last couple of days. However, bears appear to be losing momentum with the price now forming a double bottom at the $41.93 support. If bulls sustain momentum off this support level, HYPE could rally to $44.09, the first key resistance in the short term.

However, if bears take control and push HYPE through the $41.93 support, a price correction below $40 could follow. Of these two scenarios, the odds are higher for a rally to $44. That’s because the broader market appears to stabilize after the correction experienced in the last 24 hours.