Hyperliquid (HYPE) Price Analysis: Can Bulls Push Above $88?

Hyperliquid (HYPE) is showing signs of stabilization after retreating from its late-September peak, with traders closely watching key support and resistance levels for the cryptocurrency's next major move.

HYPE is currently trading near $85.24, recovering slightly after falling from approximately $98 in late September to a recent low around $83. Although selling pressure has weakened, the token still faces important technical barriers before confirming a stronger bullish recovery.

The latest Hyperliquid price analysis suggests that the broader market structure remains positive despite the recent correction. HYPE continues to trade above its major moving averages near $64 and $76, indicating that its longer-term upward trend remains intact.

Meanwhile, the cryptocurrency is holding slightly above its short-term moving average around $84. However, resistance near $88 continues to limit upward momentum, making this price level particularly important for traders monitoring potential breakout opportunities.

On the downside, HYPE's immediate support stands at $83, which recently attracted buying interest. A stronger support zone lies between $78 and $80, an area associated with the cryptocurrency's September breakout.

If buyers successfully defend these levels, Hyperliquid could establish a foundation for another upward move. However, a sustained decline below $83 would weaken the current recovery attempt and increase the likelihood of further losses.

The next major resistance levels are $88 and $92. The latter previously attracted selling activity twice during early October, suggesting that sellers could return if prices approach this region.

A decisive daily close above $88, accompanied by increased trading volume, would strengthen the bullish outlook. Such a breakout could open the door toward $92, followed by $95.

If buying momentum continues beyond $95, HYPE could potentially retest its late-September high near $98, representing a significant recovery from its recent decline.

Conversely, failure to maintain support at $83 could trigger another correction toward $78. Losing that level would expose the cryptocurrency to additional downside risk, with $74 emerging as the next potential target.

For now, Hyperliquid's price outlook depends largely on whether buyers can reclaim $88 or sellers push the token below $83. These levels could determine HYPE's short-term direction as cryptocurrency market volatility continues.