The Hyperliquid (HYPE) token has rebounded from the $50–$55 support area, trading around $72 as it tests a key resistance level at $72.18. The recent upward movement comes amid a significant rise in open interest, reflecting increased market participation and leverage across the platform.
Two major developments have supported the recent rally. First, remarks from President Donald Trump indicated that the CFTC is working to bring Hyperliquid into the United States in a compliant and legal manner, which could expand the platform's potential user base. Second, Coinbase integrated Hyperliquid-powered perpetual futures into its Base App, giving eligible users access to over 290 markets with up to 50x leverage.
Open Interest and Technical Outlook
While trading activity has grown, the expansion in leverage has also raised caution regarding potential market volatility. Total open interest on Hyperliquid crossed $11 billion in July, while open interest in HIP-3 markets increased significantly from approximately $259 million at the start of 2026 to over $4 billion.
From a technical standpoint, HYPE has reclaimed the $63–$64 resistance area, with the Supertrend indicator remaining bullish at $59.58. A decisive daily close above the $72.18 resistance level could open a path toward the next pivot at $80.24, whereas a failure to break this threshold could prompt profit-taking following the recent recovery.
