Hyperliquid Price Climbs Back to $50 as Hypurr NFTs Launch

Summary:
The price of Hyperliquid has seen a 5% increase following the launch of Hypurr NFTs, drawing increased trading activity and focusing on the resistance level of $50. The ongoing trading landscape indicates significant interest, especially with the debut of these new digital collectibles.

Key Takeaways

Hyperliquid's price rose to $47.23, marking a 5% increase in the last 24 hours.
The launch of Hypurr NFTs has spurred remarkable trading activity.
Daily trading volume grew 11% to $522 million.
Hypurr NFTs consist of 4,600 cat-themed collectibles.
There has been strong market interest, with an NFT selling for over $467,000 shortly after launch.
Technical analysis indicates key prices to watch for potential future movements.

Hyperliquid price chart showing rebound

Price Performance of Hyperliquid

As of the latest updates, Hyperliquid is trading at $47.23, reflecting a 5% increase in the past 24 hours. This upward movement comes after fluctuations over the week, where prices fell to $43 before recovering towards the $50 threshold. In the last 30 days, the HYPE token is up by 7%, although it still sits 20% below its all-time high of $59.30, reached on September 18.

In addition, the daily trading volume has surged by 11% to $522 million, reflecting an increase in trader activity. Data from CoinGlass reveals that the volume of Hyperliquid futures has also climbed by 13.85% to $1.8 billion, while open interest has slightly increased by 0.61% to $2.28 billion. This pattern indicates a higher number of contracts being traded, yet suggests that traders may not be heavily investing in long-term positions, favoring instead short-term trading tactics.

Launch of Hypurr NFTs Brings New Energy

On September 28, the Hyperliquid Foundation introduced Hypurr NFTs, a collection featuring 4,600 cat-themed digital collectibles created on HyperEVM. The majority, 4,313 NFTs, were allocated to early users participating in the Genesis Event held in November 2024, while others went to the Foundation, Hyperliquid Labs, NFT artists, and various contributors.

Differentiating from typical NFT drops, Hypurr NFTs were designed as tokens of appreciation for early supporters, closely connected to Hyperliquid’s ecosystem. Built on HyperEVM, these NFTs link directly to the liquidity that powers the chain’s trading functions. This integration allows developers to create applications utilizing HyperCore liquidity and HyperBFT consensus, providing utility beyond mere visuals.

Market reception has been very positive. The collection appeared on OpenSea with floor prices around 1,458 HYPE (approximately $68,700). Shortly after their launch, one NFT even sold for over $467,000, inciting lively discussions in the community. However, a warning from security researcher ZachXBT about the theft of eight NFTs valued at roughly $400,000 underscores the need for careful wallet security among holders.

This combination of technological development, high-value sales, and cultural significance has captured renewed interest in Hyperliquid and its ecosystem.

Technical Analysis of Hyperliquid Price

Analysis of the price charts indicates that HYPE is currently trading between $44 and $47, with $44 identified as a significant support level. In recent pricing action, upward movements have faced resistance at the $50 mark.

Hyperliquid price rallies back towards $50 as Hyperr NFTs debut - 1

The relative strength index (RSI) stands at 46, indicating neutral momentum. Additionally, the Moving Average Convergence Divergence (MACD) remains negative, suggesting some bearish pressure may exist. The Bollinger Bands are tightening, often indicating that a significant price movement could be on the horizon.

In the near term, moving averages indicate bearish sentiment, as the 10-, 20-, and 50-day exponential moving averages (EMAs) show signs of selling pressure. Conversely, the 100- and 200-day averages provide support, suggesting that the overarching trend is still intact.

Should HYPE break through the $50 ceiling with strong trading volume, a retest of the September high at $59 could be a possibility. However, if the price drops below $44, it may return to the $30 range. Currently, the demand generated by NFTs provides bullish sentiment, while key technical levels will serve as critical indicators for future price movements.