What to Know
- Hyperliquid trading volumes surged over 680%, while HYPE gained 15.22% to reach $91.41 amid increased activity across major exchanges.
- HYPE recovered from $75 as technical indicators strengthened, with resistance between $94 and $98 determining its potential move toward $100.
- Derivatives markets recorded $32.57 million in liquidations and $50.28 million in futures net outflows despite growing trading activity across exchanges.
Hyperliquid (HYPE) recorded a massive increase in trading activity on October 30, with exchange volumes climbing over 680% amid renewed buying pressure. The cryptocurrency gained 15.22% within 24 hours, pushing its price to $91.41 as derivatives activity expanded across major exchanges.
According to CoinGlass data, HYPE futures trading volume reached $13.47 billion, while spot transactions generated approximately $1 billion. The increase placed Hyperliquid among cryptocurrencies experiencing substantial trading activity during the latest market session.
Binance accounted for $3.89 billion in daily trading volume, representing a 789.13% increase from the previous period. Meanwhile, Hyperliquid’s native exchange recorded $3.06 billion, reflecting a 738.72% increase in trading activity.
Additionally, outstanding futures positions reached $4.02 billion in open interest, highlighting considerable participation across derivatives markets. These figures accompanied HYPE’s recovery from approximately $75, marking a significant improvement in its recent price performance.
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HYPE Price Targets $100 as Trading Indicators Signal Stronger Momentum
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TradingView’s daily chart showed HYPE recovering above several important moving averages as trading volume increased alongside its price. The recovery also produced a substantial bullish candlestick, reflecting stronger buying activity across the cryptocurrency’s market.
Meanwhile, the Relative Strength Index approached 65, indicating improving momentum without crossing the conventional overbought threshold of 70. Technical resistance remained concentrated between $94 and $98, where previous trading sessions encountered considerable selling pressure.
Source: TradingView
A successful move above $98 could position HYPE for another advance toward the psychologically important $100 price level. Conversely, the chart identified $85 as immediate downside support, followed by another significant support level near $80.
HYPE Futures Record $32.57 Million in Liquidations Despite Price Recovery
Beyond the price recovery, derivatives data revealed considerable liquidation activity accompanying the expansion in trading volumes. CoinGlass recorded approximately $32.57 million in liquidations over 24 hours, reflecting substantial position closures across the market.
Furthermore, futures markets registered $50.28 million in net outflows over 12 hours despite the cryptocurrency’s double digit percentage increase. The figures highlighted differences between expanding trading activity and the movement of capital across derivatives positions.
Notably, the $4.02 billion open interest figure placed additional importance on price movements around the identified resistance levels. Increased leveraged participation also raised the potential for further liquidations during substantial market fluctuations.
HYPE’s 15.22% advance brought the cryptocurrency closer to the $94 resistance threshold, leaving a relatively narrow distance before another technical test. Market data identified the $94 to $98 range as the principal resistance area separating HYPE from the $100 milestone.
Overall, Hyperliquid’s trading expansion accompanied a substantial price recovery, while derivatives liquidations and capital outflows remained notable market developments. The cryptocurrency traded around $91.41, with resistance near $98 and support at $85 defining its immediate technical range.
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