Hyperliquid: The Bear’s Laugh and Irony

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The city of deals hums like a furnace, and Hyperliquid glows stubbornly, a lone lamp in a factory alley, indifferent to the cold breath of the market’s fear.

While BTC, ETH, and the heavyweights stumble through the market’s corridor, Hyperliquid holds its ground, a stubborn reminder that the wind can change direction and the crowd may still be wrong.

What’s Driving Hyperliquid Higher

CoinGecko’s ledger shows HYPE rising about 31% in the last week, edging toward the thirty-four dollar line-the highest price in more than a month, as if the clock briefly decided to smile for a moment.

Over 14 days, HYPE is up around 17%. Over 30 days, up 13%; over the year, up 8%. Bitcoin, by comparison, has fallen 12% in two weeks, 4% in a month, and about 21% year over year. The market tells its own jokes, and some investors laugh with receipts in hand.

Analysts point to solid, structural developments as the wind behind the sails. Crypto analyst Elite Crypto highlights Hyperliquid’s HIP‑3 upgrade, which introduces permissionless perpetual contracts tied to real‑world assets such as gold, silver, and other commodities. The punchline, perhaps, is that the contracts pretend to anchor to metal while the weight of the world remains in speculation.

Trading in these products has expanded rapidly, with silver‑based perpetuals alone sometimes surpassing $1 billion in daily volume. The joke lands softly on the table: more money flows where the gamble rests.

Elite Crypto also notes signs of institutional accumulation, with decentralized autonomous traders, including on‑chain strategies, steadily increasing their exposure.

Research firm Citrini has bullish words about the platform, and rumors of a Hyperliquid ETF keep market chatter buzzing like a crowded hall after a long day.

HYPE Faces Crucial Technical Test

From the technical ledger, DeFi Guru notes that HYPE is testing its primary descending resistance, price action impulsive and confident, a mood shift in the air that makes even the most stoic trader blink. A reclaim of $30 is seen as decisive; if price clears that gate, the next target near $35-coinciding with the 0.618 Fibonacci retracement-seems within reach, like a mouthful of bread after a long hunger.

Another observer, Efloud, offers caution. He marks a key support near $23.7 and outlines zones of resistance that will judge whether the rally can march on. He notes price has already reached an intermediate resistance and suggests short‑side plays only if bearish structure reappears on lower timeframes-either here or near $38-$39.

And yet, the market, as ever, has a sense of humor. In the last 24 hours HYPE slipped roughly 10%, drifting toward around $29, a reminder that every ascent can be followed by a tug of gravity.

Analyst Ox Kaize calls the dip a normal response, given what gold and Bitcoin have been doing. A recovery in those markets could lend additional momentum to Hyperliquid, nudging the token toward the $50 mark-because the crowd loves a good round number as much as a good punchline.

More catalysts loom. A second Hyperliquid airdrop is anticipated in the near future, and Kaize believes the timing might be deliberate: as prices lie below their peak, token distribution could sow the seeds for longer‑term growth of the ecosystem.

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2026-01-31 10:55