Key Moments
- Hyperliquid (HYPE) traded above $44 on Tuesday after an 8.37% surge that pushed the token beyond its March peak of $43.75.
- Futures open interest in HYPE climbed to $1.95 billion on Tuesday from $1.5 billion on April 3, reaching its highest level in early November.
- Daily RSI printed 69 and MACD maintained a bullish crossover from April 10, signaling sustained upward momentum toward the $50.15 resistance.
On-chain and Derivatives Metrics Tilt in Favor of Buyers
Hyperliquid (HYPE) extended its latest advance on Tuesday, holding above $44 after jumping 8.37% in the prior session and clearing the March high at $43.75. Data from on-chain and derivatives markets indicated that buy-side participation has been strengthening, reinforcing expectations for further upside.
According to CryptoQuant summary metrics, Hyperliquid’s spot and futures activity pointed to a market dominated by buyers. Conditions in these markets were described as cooling, while most other indicators sat in broadly neutral territory, collectively suggesting room for a continuation of the move higher.
On derivatives venues, CoinGlass figures showed that futures open interest (OI) in HYPE reached $1.95 billion on Tuesday, up from $1.5 billion on April 3. Open interest has been rising steadily and was reported at its highest level in early November. This build-up in OI signals fresh capital entering HYPE futures and new long exposure, which may help sustain the current rally in spot prices.
CoinGlass also reported a long-to-short ratio of 1.04 for HYPE on Tuesday. With the ratio above 1, positioning leaned toward the long side, indicating that more traders were positioned for price appreciation.
| Metric | Value | Date / Reference |
|---|---|---|
| Spot price (approx.) | Above $44 | Tuesday |
| Prior session gain | 8.37% | Previous day |
| March high | $43.75 | March |
| Futures open interest | $1.95 billion | Tuesday |
| Futures open interest (earlier level) | $1.5 billion | April 3 |
| Long-to-short ratio | 1.04 | Tuesday |
| Key resistance | $50.15 | October 30 high |
| Daily RSI | 69 | Daily chart |
| MACD signal | Bullish crossover | Since April 10 |
| Nearby support | $40 (psychological level) | Potential downside area |
Technical Picture: Bulls Eye October Peak Near $50
From a technical perspective, Hyperliquid’s breakout above the March ceiling of $43.75 has opened the way for a potential test of the October 30 peak at $50.15, as long as the current upside structure holds.
On the daily chart, the Relative Strength Index (RSI) stood at 69 and was moving higher toward the overbought band, underscoring strong bullish momentum. At the same time, the Moving Average Convergence Divergence (MACD) indicator showed a bullish crossover that occurred on April 10 and remained in place, aligning with the constructive tone in price and derivatives positioning.
If buying pressure fades and a pullback emerges, price action could look to the psychological area around $40 as an initial support zone.
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