**Hyperliquid Price Declines Amid Rising Whale Accumulation, Signaling Potential Rebound Near $36 Support**
Hyperliquid (HYPE) continues to experience a price decline, currently trading at $37.63 at press time, down 9% in the past 24 hours. The token is positioned near the lower end of its seven-day range and has dropped 20% over the past week and 25% in the last month. Compared to its all-time high of $59.3 set on September 18, HYPE now trades 36% lower.
### Market Activity and Derivatives Overview
Daily trading volume for the Hyperliquid token rose by 59% to $796.7 million, indicating increased market activity. Meanwhile, derivatives volume climbed 38.7% to $2.81 billion. However, open interest declined by 7.7% to $1.59 billion.
This combination of rising derivatives volume alongside falling open interest typically suggests that traders are closing or rotating positions rather than initiating new long exposure. Such activity often signals short-term caution or hints at upcoming volatility.
### Whale Accumulation and Ecosystem Strength
On-chain analysis from CryptoQuant contributor EgyHash, published on November 3, reveals clear signs of accumulating behavior by large holders. Growth in spot volume and an increase in average order sizes point towards accumulation by big accounts. Futures data also reflect this trend, with growing average order sizes suggesting that institutional and high-net-worth traders are stepping in.
Supporting this bullish sentiment, Hyperliquid’s ecosystem channels a substantial portion of protocol fees into token buybacks. The Assistance Fund has repurchased more than $340 million worth of HYPE tokens so far this year and continues to make regular purchases. Monthly buybacks are currently around $65 million, and planned delegated programs could further boost demand by year-end.
Additional positive momentum is coming from infrastructure improvements and new exchange listings. Major platforms such as Bybit, OKX, and Robinhood Europe have added HYPE trading pairs. Moreover, Bitget Wallet’s HyperEVM bridge has attracted USD Coin (USDC) liquidity exceeding $4.5 billion.
These developments, combined with exchange-traded fund filings by 21Shares and Bitwise, are drawing institutional interest, which could amplify the rebound narrative if momentum returns.
### Technical Analysis of Hyperliquid Price
On the daily chart, HYPE is trading below the middle Bollinger Band, which currently stands around $41. The price is nearing the lower Bollinger Band, indicating cooling momentum. The MACD remains negative, and most momentum indicators are bearish. The Relative Strength Index (RSI) is at 40, reflecting slight weakness.
Short- to mid-term moving averages (10- to 100-day) are positioned above the current price and trending lower, confirming a short-term bearish structure.
The price range between $36 and $38 is critical, as it aligns closely with the 200-day estimated moving average. A daily close below $36 could trigger deeper selling pressure toward $32, a level where previous buyers have stepped in.
On the upside, resistance lies between $41 and $42. If bulls can defend this zone, a breakout above could accelerate market momentum, potentially targeting $49 and, with sustained whale accumulation, $55.
—
**Summary**
While Hyperliquid is currently facing downward price pressure, significant whale accumulation combined with ecosystem buybacks and increasing institutional interest provides a compelling case for a potential rebound near the $36 support level. Traders should watch key technical levels closely to gauge whether the bearish trend will persist or reverse in the near term.
https://crypto.news/hyperliquid-price-eyes-support-whale-accumulation-2025/
