Hyperliquid (HYPE) hit a record at $84.80 on Thursday, driven by an aggressive buyback program, increasing regulatory support, and a bullish technical breakout that pushes the token toward a new resistance zone.
Key points:
HYPE marks its second highest level in seven days and trades around $84.07, up nearly 4% for the session.
Hyperliquid’s AQAv2 program directs most of the returns generated by $6.74 billion in stablecoin deposits toward HYPE buybacks.
Technical levels target $92.37 as the next resistance, while the August 29 unlock and a breakdown below $68 are the main risks.
A record rally for HYPE
HYPE surpassed its previous ceiling at $77 last week, then confirmed that level during a pullback before soaring to a new all-time high of $84.80, BeInCrypto reports. The breakout held: the token was then trading around $84.07, representing nearly a 4% gain for the day, while its market capitalization hovered near $19 billion.
Hyperliquid began generating yield through its AQAv2 reserves program on August 26, directing roughly 90% of cost-adjusted returns on $6.74 billion in USD Coin (USDC) deposits toward HYPE buybacks. With a yield assumption of 3%, this mechanism could add nearly $182 million per year, an increase of about 18% versus current revenues, estimated at around $2.76 million per day.
An initial distribution is expected on October 3. Last week, President Donald Trump also said that the Commodity Futures Trading Commission was working to define a compliance pathway for Hyperliquid in the United States, adding another regulatory catalyst to the bullish move.
Read also: Nvidia Posts $96.2B Revenue, Fuels 8% Share Rally And Bitcoin Gain
Price outlook for Hyperliquid
On the weekly horizon, the next major resistance is around $92.37, corresponding to the 1.272 Fibonacci extension—about 10% above the reference price used in the analysis. The weekly RSI has moved back above 70. In mid-May, a similar setup preceded a rally of roughly 100% up to the previous all-time high.
A move of similar magnitude would point to the 1.618 Fibonacci extension at $111.93, even if trading volumes remain well below those seen in January. HYPE is still trading above $68.
The main short-term risk comes from the unlocking of 1.2 billion dollars’ worth of tokens scheduled for August 29, followed by another one a month later. This unlock will test the market’s ability to absorb the additional supply. A daily close below $68 would invalidate the bullish structure described in the analysis.
In early August, HYPE bounced off the 0.618 Fibonacci level at $55.41 after a third test of an uptrend line. The token then broke above $77 amid a weekly surge of about 40%, briefly corrected to $76.75 this week, before pushing higher again to set a new all-time high.
To watch: Bitcoin Could Challenge Gold’s 10X Market Cap Lead In Next Bull Cycle, CZ Says