Hyperliquid Prices Ready to Rebound? HYPE Tests Important Support as Bullish Signals Strengthen

Jakarta, Pintu News – Hyperliquid is retesting its main support area and is trading at around $36.70 on Wednesday (April,1). This condition opens the opportunity for a price bounce if buying pressure begins to strengthen again.

The upside outlook for the HYPE token is also further supported by on-chain activity showing strengthening as well as derivatives metrics remaining positive.

Hyperliquid On-chain and Derivatives Data Shows Bullishness

A summary of data from CryptoQuant shows conditions trending neutral, but with a bullish bias. Hyperliquid spot and futures markets show the dominance of the buy side as well as cooling market conditions. Meanwhile, most of the other metrics are still in the neutral area, indicating an opportunity for upward movement.

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On the derivatives front, the Hyperliquid funding rate turned positive since mid-March and has continued to stay in that zone, even rising to 0.0095% on Wednesday. This signaled that long positions were paying for short positions. Historically, as seen in the chart below, when the funding rate changes from negative to positive and then continues to increase, Hyperliquid prices tend to spike.

Hyperliquid Chain Transaction Fees Surpass Tron and Solana

Based on Artemis Terminal data, Hyperliquid’s total chain transaction fees in 24 hours reached $1.4 million.

This puts Hyperliquid at the top of the list of blockchains with the highest fee revenue, surpassing other networks such as Tron and Solana . This reflects increased trader interest as well as increased liquidity in the HYPE chain ecosystem.

Hyperliquid price projection: HYPE Approaches Important Support Zone

Hyperliquid price was trading at $36.71 on Wednesday, having corrected more than 7% since Sunday. On Tuesday, HYPE again tested the daily support level at $35.75, which is also adjacent to the 50-day Exponential Moving Average (EMA) at $35.01 and the 38.20% Fibonacci retracement level at $34.87. These Fibonacci levels are drawn from January’s low at $20.51 to March’s peak at $43.75, making the area a crucial support zone.

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If HYPE is able to hold around these levels, the price has the potential to continue rising towards the March peak of $43.75.

The Relative Strength Index (RSI) on the daily chart stands at 49 and is moving flat around the neutral level of 50. This suggests that market participants are still in a state of indecision after the recent selling pressure.

However, traders still need to be cautious as the Moving Average Convergence Divergence (MACD) indicator on the same chart formed a bearish crossover since March 23 and is still holding, supporting a negative outlook.

If HYPE fails to hold the 50-day EMA area at $35.01 and closes daily below that level, then the price decline could potentially continue towards the 100-day EMA at $33.45.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• FX Street. Hyperliquid Price Forecast: HYPE nears key support as bullish flows align with surging network fees. Accessed on April 2, 2026