Hyperliquid Price Stalls Under $75 Resistance—Can Bulls Break Out of the Consolidation?

Following a rejection from the highs, the Hyperliquid price is experiencing a significant sell-off, which has dragged the levels to $66. The price has dropped by nearly 5% in the past 24 hours, with a negligible rise in volume. The primary reason behind the surge is said to be liquidity drain, ETF outflows, and trapping the long positions. With this, the HYPE price is heading towards a crucial price range where the traders continue to rebuild leveraged positions. This raises a question about whether the bulls can trigger a breakout above the consolidation or if a short-term reset comes first.

HYPE Price Consolidates, But Strong Uptrend Remains Intact

The daily chart shows that interest in the token has been building steadily since the May breakout, which sent the price to fresh highs. Even after facing rejection at those levels, the token is still holding above the newly formed support zone between $63.13 and $64.67, keeping the bullish case intact. Since March, the price has continued to print higher highs and higher lows, backed by strong upward moves, showing that the broader trend remains in favor of the bulls.

At the same time, the orange supply block stands out as a major resistance area where sellers have repeatedly stepped in. The multiple rejections, long wicks, and failure to stay above $75 suggest profit-taking or distribution is happening at these levels. This makes it the key zone to watch, as another rejection could push the token into a period of consolidation or even a deeper pullback. Adding to that, the falling RSI points to weakening momentum, which could tilt the setup neutral to bearish if bulls lose hold of support.

Leverage Builds as HYPE Approaches a Major Supply Zone

While HYPE continues to hold its bullish structure, derivatives data show traders are beginning to rebuild positions as price consolidates near a major resistance zone. Open interest remains elevated compared to earlier months, showing that market participants are still actively positioning rather than stepping away after the recent pullback. After the local top, open interest cooled alongside price, flushing out excess leverage and resetting market conditions.

Now, with price stabilizing above the $63 support and open interest beginning to climb again, it suggests traders are re-entering the market with expectations of continuation. However, this also increases the risk of volatility. If bulls manage to break above the $70–$75 supply zone, the rising leverage could amplify upside and push HYPE into price discovery. But if resistance continues to hold, the crowded positioning may trigger another round of liquidations before the next trend leg begins.

Is HYPE Building for a Breakout or Another Leverage Flush?

For now, Hyperliquid remains in a strong bullish structure, but the next move will likely depend on how the price reacts around the $70–$75 supply zone. Holding above the $63–$64 support keeps the short-term uptrend intact and gives bulls room to attempt another breakout. If buying pressure strengthens and HYPE manages to clear $75 with rising volume and open interest, the most realistic upside targets for this month sit around $80 first, followed by the $86–$90 range, where the next liquidity pockets are likely to form.

On the downside, if the price continues to get rejected while leverage keeps building, the risk of a short-term flush increases. In that case, HYPE could revisit the $58–$60 range before finding stronger demand again. For now, the broader trend still favors bulls—but with leverage rising and supply overhead, volatility is likely to remain high as the market decides its next direction.