Hyperliquid HYPE Nears $100 After Setting Record High

Hyperliquid HYPE token approaches $100 after reaching a record high near $96

Hyperliquid’s HYPE token climbed to a record near $96, bringing the psychologically important $100 level into view as the September rally extended. HYPE was trading around $95.40, above its major daily moving averages and in price-discovery territory.

The latest advance followed a defense of the $77–$78 area, after which buyers pushed HYPE back above $80 and through resistance between $87 and $90. That former resistance zone could now become an area of support if the token pulls back.

Holding above $90 would preserve the current technical structure and leave the record near $96 as the next level for buyers to challenge.

HYPE Rally Gains Support From Hyperliquid Activity

The token’s move has coincided with continued activity across the Hyperliquid ecosystem.

The protocol recently introduced a manual borrowing feature that allows users to use HYPE and Bitcoin as collateral. Loans can be denominated in USDC and USDT.

Borrowing reportedly reached $269 million during the first day of the service, while supplied liquidity exceeded $400 million.

Hyperliquid’s derivatives activity has also remained substantial. Total open interest across the platform recently reached approximately $14.3 billion, while HIP-3 markets recorded more than $4.44 billion in August.

According to Hyperliquid Strategies, the ecosystem added roughly $945 million in value during the year ending June 2026.

The platform’s economics are also linked to HYPE buybacks, creating a connection between activity on the protocol and demand for the token.

HYPE Faces $100 Psychological Resistance

A sustained move above $96 could put $100 within reach. With HYPE in price discovery and no historical resistance above its record, psychological levels may become increasingly important as traders assess the next stage of the rally.

Source: TradingView

The elevated relative strength index, however, remains a factor to watch. Momentum is strong, although the RSI is still below the extreme readings recorded during previous HYPE rallies, leaving room for further movement while also signaling that conditions remain extended.

HYPE could also consolidate between $90 and $96 if momentum cools and buyers establish a stronger base.

A decline below $90 would bring the $85–$87 breakout region back into focus. Deeper weakness could expose the $80–$82 support area.

For now, the technical structure remains intact as long as HYPE holds above $90, while continued activity across Hyperliquid provides an additional source of demand for the token.

Writer: Marcus Renfield

Crypto Market Analyst & Onchain Writer

Marcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.

He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.