Hyperliquid (HYPE) is showing signs of stabilization as buyers defend key support while resistance limits further gains. Meanwhile, wallets linked to Monetalis appear to be rotating capital from UNI into HYPE, signaling increased interest in the token, although the fund’s exact strategy remains unconfirmed.
At the time of writing, according to CoinMarketCap data, the token is trading at $57.52, up 0.74% over the past 24 hours and up 5.08% over the past week.
Hyperliquid Price Eyes $60 Breakout as $52–$54 Support Holds
According to the crypto commentator HypedLaunches, HYPE is attempting to stabilize after a sharp correction from above $75. The token recovered strongly from the $20–$30 range earlier this year before breaking above $50 during April and May. The rally continued into June, pushing HYPE above $75 before sellers began taking control of the market.
The decline continued through July, eventually sending HYPE toward $52–$53 in early August. Since then, price action has started showing signs of consolidation rather than another immediate sell-off. HYPE is currently near $56.27, while the $52–$54 zone remains important support after several reactions from buyers.
On the upside, Hyperliquid faces immediate resistance between $57 and $60, followed by a stronger barrier around $62–$65. A daily close above $60 could improve the short-term structure and suggest buyers are gaining control after weeks of lower highs. Trading volume, however, remains below May and June levels.
If buyers continue defending $52–$54 and reclaim $60, HYPE could target $62–$65 before potentially moving higher. However, losing the current support zone would weaken the setup and expose the token to further downside. After falling sharply from its peak, Hyperliquid now needs buyers to establish stronger support.
Monetalis Shifts $13M From UNI Into HYPE
A wallet linked to fund manager Monetalis appears to have shifted a sizable cryptocurrency position from Uniswap’s UNI token into Hyperliquid’s HYPE, according to on-chain data highlighted by Lookonchain. The activity suggests a potential change in the fund’s exposure as capital moved between the two assets.
The wallet reportedly transferred 3.72 million UNI worth around $13 million through Cumberland before sending the tokens toward major exchanges, including Binance, Coinbase, Bybit, and OKX. Such deposits can indicate preparation for selling or repositioning, although the on-chain movements alone do not confirm the final purpose of the transfers.
Following the UNI transactions, wallets associated with Monetalis reportedly purchased 171,543 HYPE valued at approximately $9.56 million. The sequence has drawn attention because it points to a possible rotation from UNI into HYPE, giving traders another example of large-wallet activity influencing sentiment around major crypto assets.
What Happens Next for Hyperliquid Price?
The Hyperliquid price may remain range-bound as traders watch the $52-$54 support and $57-$60 resistance. A daily close above $60 could open the path toward $62-$65, while losing support may trigger further downside. Monetalis’ HYPE accumulation could also strengthen market sentiment.
