The HYPE token, native to the Hyperliquid ecosystem, experienced a notable 11% spike over the last day. This bullish movement puts the asset in the spotlight. The rally directly coincides with the recent filing of an S-1 document with the SEC. The filing was made by Hyperliquid Strategies Inc., the corporate entity linked to the project. This regulatory milestone has renewed interest and positive speculation surrounding the Hyperliquid price prediction (HYPE).
The S-1 document filed with the U.S. regulator is a fundamental step. It details the firm’s intention to raise up to $1 billion. This impressive capital raise would be structured through a public offering of 160 million shares. Most relevant for HYPE holders is the potential use of these funds. The filing indicates that part of that capital could be allocated to acquiring HYPE tokens directly from the market. This prospect of a massive institutional buy-in has been the primary catalyst for the recent surge.
HYPE’s momentum does not solely depend on this regulatory news. The Defi platform has demonstrated solid fundamentals and consistent organic growth. According to recent platform data, the project reached a historic milestone. It has surpassed 779,060 total users registered as of October 21. Furthermore, it maintains a robust average of 1,800 new daily users, a figure sustained since late last year. This user base growth is vital. It also competes with previous narratives, such as the supposed rivalry with the ASTER token, a project that has fallen over 60% while HYPE holds firm.
Can Technical Analysis Confirm the Breakout Toward $50?
From a technical perspective, HYPE’s chart shows signs of accumulation. The price has effectively bounced from the key support zone of $34-$35. This area has functioned as a solid demand zone on multiple occasions. The formation of a small double bottom at this level suggests early buyer interest. Currently, the asset is testing immediate resistance. It is located near the psychological level of $40. This point also coincides with a previous structural pivot. Breaking this barrier is crucial for the bullish continuation.
The Relative Strength Index (RSI) supports the positive sentiment. It currently sits around 61, indicating growing upward pressure. If buyers manage to consolidate the $40 level as new support, it would open the path toward higher targets. Technical analysts are closely watching the $43.60 and $50 levels as the next significant goals. However, investors must be cautious. A rejection at the $40 resistance could lead the price to retest the $35 support again before a true liftoff.
