Key Moments
- Hyperliquid (HYPE) trades 2% lower on Thursday, giving back part of a rebound of over 5% from the previous session.
- HYPE-focused ETFs recorded $5.03 million in outflows on Wednesday following two sessions of zero inflows and after $9.25 million in inflows last week.
- Price action remains below $90, hovering around the 50-period EMA on the 4-hour chart, while staying above the 100-period and 200-period EMAs at $88.55 and $84.68.
ETF Flows Signal Cooling Institutional Appetite
Hyperliquid (HYPE) is trading 2% lower at press time on Thursday, erasing part of the more than 5% advance recorded the previous day. The latest price weakness coincides with signs that institutional interest is moderating.
HYPE-focused Exchange Traded Funds (ETFs) saw $5.03 million in net outflows on Wednesday, following two consecutive sessions earlier in the week with no new inflows. This marks a reversal from last week, when the same group of ETFs attracted $9.25 million in inflows, pointing to a notable shift in institutional participation.
For the month of September, HYPE ETFs have posted $6.86 million in net outflows, underscoring the softening demand from institutional investors and contributing to a more cautious near-term sentiment around the token.
| Period / Metric | Value |
|---|---|
| Price move on Thursday (press time) | -2% |
| Rebound in previous session | Over 5% |
| ETF flows on Wednesday | $5.03 million outflows |
| ETF inflows last week | $9.25 million inflows |
| September ETF flows | $6.86 million outflows |
Price Action: Gains Under Pressure Below $90
At the current session low, Hyperliquid is trading below $90, trimming the strong rebound from the prior day. The token’s short-term tone remains cautiously constructive, but the inability to hold above $90 highlights vulnerability to renewed selling if support levels fail to hold.
On the 4-hour chart, HYPE is testing the 50-period Exponential Moving Average (EMA) at $89.60. Despite the intraday pullback, the price is still trading above the 100-period EMA at $88.55 and the 200-period EMA at $84.68, keeping the broader uptrend technically intact for now.
Momentum Indicators Paint a Mixed Picture
Momentum signals on the 4-hour timeframe are sending a mixed message. The Relative Strength Index (RSI) has retreated back toward the midline after a steady climb, suggesting that buying conviction has cooled and that the market is in a more balanced state between buyers and sellers.
At the same time, the Moving Average Convergence Divergence (MACD) indicator is still trending higher after crossing above its signal line in the previous session, hinting that underlying bullish momentum has not fully dissipated despite the latest price decline.
Key Levels to Watch: Upside Targets and Support Zones
On the upside, a sustained rebound from the 50-period EMA at $89.60 could allow HYPE to resume its recovery. The immediate objective would be a retest of the record high at $98.03. A clear break and close above $98.03 would open the door for a move toward the psychologically important $100 mark and extend the token’s price-discovery phase.
On the downside, the 100-period EMA at $88.55 serves as the first notable support area. Below that, the 200-period EMA at $84.68 is the next key technical floor. A breach of these levels would put the recent rebound at risk and could signal a deeper retracement within the broader trend.
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