HYPE Price Holds Key $57 Support as Hyperliquid Eyes Recovery Toward $70

Hyperliquid (HYPE) is approaching one of its most important technical support levels after pulling back from recent highs above $75. The token is now trading near its 100-day moving average around $57, a zone where buyers are beginning to step back into the market. If this support remains intact, HYPE could be positioned for a rebound toward the $70 level.

Despite the recent decline erasing a large portion of July's gains, the broader uptrend remains intact. HYPE continues to trade well above its rising 200-day moving average near $50, reinforcing the long-term bullish structure. The 100-day moving average is also acting as immediate dynamic support, giving bulls an important level to defend.

The $57 area carries added significance because it aligns with a previous breakout zone. In technical analysis, successful retests of former resistance often confirm new support and can pave the way for another upward move. Current price action suggests buyers are actively defending this level despite continued selling pressure.

Momentum indicators also point to improving conditions. The Relative Strength Index (RSI) has dropped into the low-40 range, marking its weakest reading in several weeks. While this does not guarantee a reversal, it indicates that the overheated momentum from June has largely cooled, creating room for renewed buying interest. Historically, HYPE has resumed its uptrend after similar RSI resets.

For bulls, the next challenge lies between $63 and $65, where several short- and medium-term moving averages are clustered. A decisive close above this resistance zone could strengthen bullish momentum and increase the likelihood of a move toward $70. If that level is reclaimed, the previous highs around $75-$76 become the next upside target.

On the downside, losing support at $57 would weaken the bullish outlook and could trigger a deeper correction toward the 200-day moving average near $50. For now, however, the technical picture still favors a rebound, with HYPE holding a critical support level and its long-term trend remaining firmly positive.