Hyperliquid News Today: Bearish RSI Divergence vs. Bullish MACD: HYPE's $50 Battle Intensifies

Hyperliquid (HYPE) has emerged as a focal point in the decentralized trading landscape, with recent technical and on-chain developments suggesting a potential bullish reversal. The token, which stalled below $50 amid a bearish RSI divergence, has shown signs of recovery, driven by rising open interest and whale activity. As of late October 2025, HYPE traded near $48.50, with analysts noting that a breakout above $51.15 could propel it toward its September 18 record high of $59.46. This optimism is further bolstered by Hyperliquid's dominance in the perpetual DEX market, where it generated $1.2 billion in annual profits and $12.9 billion in daily trading volume.

The exchange's ecosystem has seen robust growth, including a $645 million buyback program and expanding liquidity. Over 46% of crypto token repurchases in 2025 were attributed to Hyperliquid, signaling strong investor confidence. On-chain metrics also highlight its appeal: 24-hour open interest surged to three times that of rival platforms like Aster and Lighter. This momentum aligns with broader market trends, as DeFiLlama data shows perpetual DEX trading volume hitting $57.02 billion in October 2025.

Technical indicators paint a mixed but cautiously optimistic picture. While the RSI on the 4-hour chart indicates fading bullish momentum, the MACD's approaching bullish crossover suggests potential for renewed upward movement. A critical test lies at $50, with analysts warning that failure to absorb resistance there could trigger a retest of the $46.35 support level. Conversely, a successful breakout above $52 might set the stage for a rally toward $60, a level coinciding with key Fibonacci extensions.

Hyperliquid's fundamentals further justify the bullish case. The platform's Layer-1 blockchain, designed specifically for traders, offers transparent execution and high-speed settlements. Its native token, HYPE, plays a central role in governance, staking, and fee structures, with a capped supply of one billion tokens. Recent upgrades, including HIP-3 and $300 million in DAT deployments, have spurred ecosystem activity. Additionally, 21Shares' filing for a Hyperliquid ETF with the SEC has raised speculation about institutional adoption, potentially unlocking new capital inflows.

Market participants remain divided on short-term risks. While on-chain activity and liquidity metrics are strong, concerns linger about token unlocks and broader market volatility. However, Hyperliquid's transparent tokenomics and active governance model—which allows holders to vote on network improvements—suggest resilience amid uncertainty.

As the crypto market navigates a pivotal phase, Hyperliquid's blend of technical strength, robust fundamentals, and strategic catalysts positions it as a key player in the decentralized trading space. Whether it achieves new all-time highs will depend on sustained buying pressure, successful execution of its ecosystem upgrades, and regulatory developments surrounding the proposed ETF. For now, the stage is set for a critical test of HYPE's bullish potential.