Hyperliquid Price Soars Toward $50 with Launch of Hyperr NFTs
Hyperliquid’s price increased by 5% following the launch of Hypurr NFTs, while heightened trading activity has shifted focus to the critical $50 resistance level.
Summary
- HYPE is trading around $47, reflecting a 5% rise over the last 24 hours.
- Hypurr NFTs have launched, achieving a floor price of $68K.
- The critical resistance level is $50, while $44 stands firm as support.
As of the latest update, Hyperliquid (HYPE) stands at $47.23, marking a 5% uptick in the last 24 hours. This growth follows a week of inconsistent trading, during which prices dropped to $43 before bouncing back towards the $50 threshold. Over the past month, HYPE has risen 7%, but it remains 20% below its all-time high of $59.30, established on September 18.
Daily trading volume has surged by 11% to $522 million, showcasing increased trader engagement. According to CoinGlass data, Hyperliquid (HYPE) futures volume rose by 13.85% to $1.8 billion, while open interest saw a modest increase of 0.61% to $2.28 billion.
This trend suggests a higher turnover of contracts, yet traders have not heavily invested in long-term positions, indicating a focus on short-term trading rather than significant directional investments.
Hypurr NFTs Generate New Ecosystem Activity
On September 28, the Hyperliquid Foundation introduced Hypurr NFTs, featuring a collection of 4,600 cat-themed digital collectibles launched directly on the HyperEVM. A total of 4,313 NFTs were allocated to early users from the Genesis Event in November 2024, with the remainder distributed among the Foundation, Hyperliquid Labs, NFT artists, and other contributors.
Unlike traditional NFT launches, Hypurr was conceived as a collectible for early supporters and is closely tied to Hyperliquid’s architecture. Built on HyperEVM, these NFTs tap into the same liquidity that fuels the chain’s trading infrastructure, enhancing their utility beyond mere digital art. Developers can create applications surrounding them using HyperCore liquidity and HyperBFT consensus.
The market response has been enthusiastic. The collection made its debut on OpenSea with floor prices around 1,458 HYPE (approximately $68,700). Shortly after its launch, one NFT fetched over $467,000, sparking lively discussions within the community. Notably, security researcher ZachXBT reported the theft of eight NFTs valued at about $400,000, emphasizing the significance of wallet security.
This combination of technological advancement, high-value trades, and cultural relevance has attracted new interest toward Hyperliquid and its ecosystem.
Hyperliquid Price Technical Analysis
Technical analysis shows that HYPE is trading between $44 and $47, with $44 acting as a solid support level. Following the recent pullback, upward movements encounter resistance at the $50 threshold.
The relative strength index stands at 46, indicating neutral momentum, while the MACD suggests lingering bearish pressure. With Bollinger Bands tightening, a sharp movement may be on the horizon.
In the near term, moving averages signal a bearish trend as the 10-, 20-, and 50-day EMAs exhibit selling pressure; however, the 100- and 200-day averages provide support, suggesting that the overall trend remains intact.
If HYPE breaks through $50 with robust volume, it may retest the September high of $59. Conversely, losing the $44 level could lead to a decline towards the $30 area. For now, demand driven by NFTs supports bullish sentiment, while technical indicators pinpoint the next critical levels to watch.