Hyperliquid Price Soars 2.5% as Perp Market Share Grows

On April 3, the Hyperliquid (HYPE) price soared by over 2.5% on a daily chart, helping its price to rebound from the recent dip in the crypto market. 

According to CoinMarketCap, Hyperliquid (HYPE) is currently trading at around $35.53 with a market capitalization of $9.09 billion. The daily trading is around $160.70 million, and the total circulating supply of 956.35 million HYPE tokens. 

Hyperliquid (HYPE) Price Follows Recovery Trajectory

Meanwhile, HYPE is showing early signs of recovery after a bearish trend. The price faces a strong downward trend and is now forming higher lows, which indicates a major shift in the price momentum. Currently, HYPE is consolidating near a support zone, and a breakout from this range could lead to bullish momentum. 

The suggested long entry zones using a dollar cost average, or DCA, is around the first zone from $35.60 to $35.30, the second zone from $35.00 to $34.70, and the third zone from $34.40 to $34.00. The stop loss is set below $33.70. Targets are lined up at $36.20, then $37.00, and finally $38.00. The trend is shifting from bearish to neutral with recovery potential, and a breakout above resistance would confirm bullish momentum. 

Technical indicators are highlighting a neutral pattern for HYPE at this moment, which suggests the recent 2% rise lacks strong momentum in either direction. The relative strength index is around 51, which means that the tokens sit in balanced territory without signs of being overbought or oversold. 

Moving averages are providing mixed signals, with shorter-term lines pointing slightly lower while longer-term lines pointing slightly lower while longer-term averages continue to lean higher overall. Oscillators such as the MACD show mild negative readings, yet other tools like the stochastic indicator flash buy signals, which creates a wait-and-see environment for traders. Key support levels rest around $34, while the first notable resistance appears near $37, and stronger barriers exist toward $40.

If there is a clear break above the resistance, then it would create a more upward momentum, whereas a drop below support might test lower zones near $32.

Several macroeconomic factors in the overall cryptocurrency market help explain this price movement. Global tensions in energy markets have increased volatility in oil prices, and this has diverted traders toward perpetual futures contracts that offer exposure without owning physical assets. 

Hyperliquid’s platform benefits directly from such flows because it runs 24 hours a day and settles trades instantly on its own high-speed blockchain. At the same time, the crypto sector remains cautious with Bitcoin showing limited gains and many investors rotating capital into platforms that deliver real utility through high trading volumes. These conditions create selective buying pressure for tokens like Hyperliquid that are linked directly to active decentralized exchanges rather than pure speculation. 

Major developments inside the Hyperliquid ecosystem continue to support long-term interest in the token. The platform recently added HIP-4 to its mainnet bug bounty program on April 3, which prepares the network for outcome-based trading and prediction markets. This upgrade allows users to place fully collateralized trades on real-world events such as sports results or economic data releases without the risk of liquidation that exists in traditional perpetuals. 

Earlier HIP-3 features have already delivered record performance, with tokenized commodities and stock now accounting for a large share of activity.

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