HYPE Rises 1.9% After Bouncing Off $75 Level

The HYPE token from Hyperliquid rose by 1.9% over the past 24 hours after reaching the support zone around 75–77. This level already supported HYPE in mid-September before the token set a new record. The latest rebound suggests a possible return of buyers, although a sustained recovery has not yet been confirmed.

The nearest test is the $83 level. A breakout above this level will improve the short-term technical picture and bring the next target around $89 into focus. If HYPE falls below $75, the next technical support is the 200-day exponential moving average around $67.50.

HIP-3 Activity

Trading activity on HIP-3 Hyperliquid markets remained relatively stable amid a general decline in open interest. Open interest on the Hyperliquid network fell by about 11% from the peak of $9.1 billion on September 13, with the decline on HIP-3 markets being milder in recent weeks.

HIP-3 allows trading of assets beyond cryptocurrencies, including stocks and commodities. Weekly trading volume increased from $12.4 billion in the week ending October 4 to $19.6 billion the following week – approximately 58%, according to Hyperliquid Stats. The growth indicates higher activity in these markets; however, trading volume alone does not determine how much demand this creates for HYPE.

Fed and Technical Signals

The market may face volatility around the Fed's rate decision and subsequent signals. According to CME FedWatch, the probability of a hike at the next meeting is 9%, with more than three-quarters of surveyed analysts expecting a hike in December. Higher inflation and oil above $100 add uncertainty regarding future monetary policy: more restrictive rhetoric may reduce risk appetite, while less stringent rhetoric may somewhat support it. Market probabilities and analysts' expectations can quickly change with new information.

HYPE's RSI is at 39, below the neutral 50, indicating a seller's advantage. The indicator is approaching the signal line, but a crossover alone will not confirm a trend reversal.