Hyperliquid (HYPE) is defending a crucial technical zone as buyers attempt to preserve the token’s recent market structure. At the same time, sustained protocol activity and HYPE supply reductions add another layer to the broader outlook, keeping attention focused on whether the asset can regain momentum and challenge higher levels.
As of now, according to CoinMarketCap data, Hyperliquid is trading at $92.82, with an increase of 1% over the past 24 hours and an increase of 2.1% over the past week.
HYPE Price Holds $89–$90 Support as Bullish Structure Remains Intact
According to crypto analyst Giannis Andreou, Hyperliquid is showing signs of strength after pulling back toward the $89–$90 region, where buyers appear to be defending the latest support zone. The area is gaining attention because it previously acted as resistance, and holding it could determine whether the recent bullish structure remains intact.
Market analysis indicates that HYPE’s move into the $89–$90 range represents an important retest of a previous resistance level. When an asset breaks above resistance and later returns to the same area, that level can potentially turn into support. HYPE is now testing whether that transition can hold.
So far, price action suggests that buyers are attempting to defend the zone rather than allowing HYPE to move below it. A sustained hold above $89–$90 would keep the recent bullish setup in focus and could provide a base for another upward move.
The next area of interest is the upper trendline. A successful rebound from the current support could push HYPE back toward that resistance, while a breakout above the trendline could open the way for the token to enter price discovery, where new highs may become the focus.
The $89–$90 zone remains the key level to watch. Holding this area would support the continuation of the bullish structure, while a decisive break below it could weaken the setup and shift attention toward lower support levels.
Hyperliquid Burns Nearly $1 Million Worth of HYPE in 24 Hours
The data from Onchain Lens further shows that Hyperliquid has continued its HYPE token burn activity, purchasing and permanently removing 10.40K HYPE worth approximately $956,800 from circulation over the past 24 hours. The tokens were acquired at a volume-weighted average price of $91.97, further contributing to Hyperliquid’s ongoing efforts to reduce HYPE’s available supply.
The latest burn brings Hyperliquid’s cumulative HYPE burns to 48.96 million tokens, representing approximately $4.48 billion in value. Overall, these burns have removed around 4.90% of the token’s maximum supply, highlighting the scale of Hyperliquid’s ongoing token-reduction mechanism.
Hyperliquid has also generated $58.27 million in revenue over the past 30 days. The combination of continued protocol revenue and regular HYPE purchases for burning provides a direct link between platform activity and the reduction of the token’s circulating supply.
