{"id":32722,"date":"2026-09-23T11:38:35","date_gmt":"2026-09-23T10:38:35","guid":{"rendered":"https:\/\/investx.fr\/en\/2026\/09\/23\/hyperliquid-hype-rally-100-dollar-breakout-rejection\/"},"modified":"2026-09-23T11:38:41","modified_gmt":"2026-09-23T10:38:41","slug":"hyperliquid-hype-rally-100-dollar-breakout-rejection","status":"publish","type":"post","link":"https:\/\/investx.fr\/en\/crypto-news\/hyperliquid-hype-rally-100-dollar-breakout-rejection\/","title":{"rendered":"HYPE: The 88% Rally Is Closing In on the $100 Wall \u2014 Breakout or Rejection?"},"content":{"rendered":"\n

Hyperliquid (HYPE)<\/strong> has strung together an 88% rally over two months<\/strong> and is now sitting just below the psychological $100 mark<\/strong>. Open interest<\/strong> on the platform has just printed an all-time high of $8.8 billion<\/strong>. The move is backed by solid fundamentals \u2014 rapidly growing revenues<\/strong> and an accelerated buyback program<\/strong> \u2014 but a derivatives book this loaded amplifies risk in both directions. The $100 test is decisive.<\/p>\n\n\n\n

Technical Analysis: HYPE Faces a Major Psychological Resistance Level<\/h2>\n\n\n\n

HYPE printed a September ATH of $96<\/strong>, driven by Bitcoin reclaiming the $85,000 level for the first time since January. That renewed risk appetite redirected massive speculative capital into perpetuals markets, of which Hyperliquid<\/strong> captured a disproportionate share as the dominant venue.<\/p>\n\n\n\n

\"HYPE:<\/figure>\n\n\n\n

On the technical side, immediate resistance sits at $100<\/strong>, a level that is both psychological and structural. A confirmed breakout<\/strong> above it would initially open the door to $102<\/strong>, then $118<\/strong> as an extended target \u2014 two levels that would confirm a clean exit from the current compression zone (source: TradingView, HYPE\/USDT).<\/p>\n\n\n\n

The key support<\/strong> to watch on a rejection sits around $80<\/strong>, the level first broken during the mid-August buyback spike. A return below that zone would be a significant bearish<\/strong> signal and would open the door to a deeper retracement<\/strong> toward prior consolidation areas.<\/p>\n\n\n\n

Revenues and Buybacks: The Real Fuel Behind HYPE’s Bull Run<\/h2>\n\n\n\n

Unlike many altcoin rallies driven purely by speculation, HYPE<\/strong>‘s advance is built on a direct mechanism linking protocol activity to price. Hyperliquid<\/a><\/strong> redirects the bulk of its revenues toward HYPE buybacks<\/strong>, creating structural buying pressure on the circulating supply.<\/p>\n\n\n\n

The numbers speak for themselves: average daily revenue doubled from $1.5 million in Q2 to $3 million in Q3<\/strong> (source: TokenTerminal). In mid-August, a spike to over $5 million in daily revenue<\/strong> coincided with an explosion in weekly buyback spending through the assistance fund<\/strong> \u2014 jumping from $5 million to $20 million<\/strong>, a fourfold increase in just a matter of weeks.<\/p>\n\n\n\n

The sequence is unambiguous: rising trading volume \u2192 revenue growth \u2192 quadrupled buybacks \u2192 HYPE breaks above $80<\/strong>. This is not simple momentum chasing \u2014 it is a supply squeeze<\/strong> backed by growing demand, a fundamentally different dynamic from a purely speculative rally<\/a>.<\/p>\n\n\n\n

Record Open Interest: Bullish Signal or Ticking Time Bomb?<\/h2>\n\n\n\n

Open interest at $8.8 billion<\/strong> on Hyperliquid<\/strong> now exceeds the level seen at the peak of the previous bull market last October. This figure measures the notional value of open derivatives positions \u2014 it does not translate directly into potential losses, but it signals an exceptionally aggressive market positioning<\/strong>.<\/p>\n\n\n\n

A derivatives book this loaded acts as an amplifier: if HYPE<\/strong> executes its breakout<\/strong> above $100, a cascade of short liquidations<\/strong> could propel the price rapidly toward $102 and then $118. Conversely, a rejection at resistance<\/strong> would trigger a wave of long liquidations<\/strong>, accelerating any correction<\/strong> well beyond what fundamentals alone would justify.<\/p>\n\n\n\n

Verdict: $100 as the Pivot \u2014 Breakout or Sharp Correction?<\/h2>\n\n\n\n

HYPE<\/strong> finds itself at a rare technical crossroads: a fundamentally justified rally running into a major psychological resistance level against a backdrop of extreme positioning. The next bullish targets are $102 and $118<\/strong> on a confirmed breakout, with Bitcoin<\/a><\/strong> holding above its own key resistance levels as a necessary condition.<\/p>\n\n\n\n

Should the move fail below $100, the first solid support<\/strong> sits at $80<\/strong>. The density of open interest<\/strong> guarantees that the move \u2014 in either direction \u2014 will be fast and amplified. The RSI<\/strong> and MACD<\/strong> on higher timeframes will be critical in confirming or invalidating the momentum over the coming sessions.<\/p>\n\n\n\n

\n\n\n\n

Related articles :<\/h3>\n\n\n\n