"Hyperliquid's $50 Rebound Ignites Bullish Bets on New All-Time High"

Hyperliquid (HYPE) has regained the $50 threshold, rekindling optimism among traders about the potential for the token to reach a new all-time high (ATH) in the near future. As of the latest data, the price remains just below its previous ATH of approximately $51, making the upcoming sessions pivotal in determining whether HYPE can break through resistance and establish fresh peaks. The growing volume of trades, favorable technical indicators, and the token's expanding ecosystem—particularly the anticipation around its upcoming USDH stablecoin—suggest a bullish outlook for the asset.

The buzz surrounding USDH, Hyperliquid’s native stablecoin, has intensified with Paxos entering the fray with a strategic proposal. The proposal outlines a model where 95% of the yield generated from USDH reserves would be reinvested into the Hyperliquid ecosystem by repurchasing HYPE tokens. This mechanism is designed to reallocate value to users, validators, and partner protocols, while also adhering to regulatory frameworks such as the U.S. GENIUS Act and the European MiCA regulation. By leveraging Paxos's established presence in the stablecoin market and its partnerships with major platforms like PayPal and Venmo, Hyperliquid could strengthen its position in the regulated financial space.

The USDH proposal is part of a broader competition among various stakeholders to shape the future of the Hyperliquid stablecoin. Other initiatives include a plan from Frax Finance that would direct 100% of the yield to users, and a proposal from Agora, supported by MoonPay, that commits to sharing all net revenues with the Hyperliquid community through buybacks and safety nets. These competing strategies highlight the dynamic governance landscape within the Hyperliquid ecosystem. A validator vote on September 14 will determine which proposal aligns most closely with community values and governance principles, marking a critical juncture for the project.

From a technical perspective, the open interest (OI) in HYPE has been rising steadily since the beginning of Q3, reaching levels above $2 billion as the rally approaches its peak. Binance’s OI for HYPE has surged past $181 million, setting a new ATH for the exchange. The price has recently rebounded from a support level around $42 and is currently testing resistance in the $49–$50.66 range. While HYPE has reclaimed $50, a breakout above this level is necessary to trigger a potential ATH. The relative strength index (RSI) has also been trending upward, approaching overbought territory, signaling a possible correction if the resistance is not successfully breached.

Analysts suggest that if HYPE breaks through the current resistance, it may test the ascending trend line at around $52.16, which could lead to increased selling pressure and a pullback below $50. A further decline to around $45 may also be possible before a potential rebound, depending on the strength of buyer support at key levels. The outcome of the USDH proposal vote and broader ecosystem developments will play a crucial role in shaping the token’s near-term trajectory, with the potential for significant institutional adoption and yield generation shaping long-term performance.