Hyperliquid (HYPE) has returned to focus after a strong rebound, rising around 6% over the past 24 hours as buying interest continues to build. Now ranked as the 13th largest cryptocurrency by market capitalization, HYPE has been drawing increased attention from traders and investors alike. Adding to the near-term narrative is its highly anticipated token unlock scheduled for January, with 12.4 million tokens worth roughly $327 million set to be released, an event closely monitored for its potential impact on liquidity and price dynamics.

Hyperliquid technical analysis

HYPEUSD - 1 Day Time Frame

On the daily chart, the 25 level stands out as a key support, with price currently trading slightly above it near 26. This zone was clearly validated during late December 2025, where repeated reactions suggest buyers are willing to step in and defend the area.

Below that, a lower support around 23 comes into view. This level was last tested in mid-December and represents the next meaningful downside buffer should selling pressure re-emerge.

To the upside, the area just above 30 acts as a major support/resistance level, currently functioning as resistance. Historically, this zone served as a strong support throughout May, June, and November 2025, increasing its technical relevance and the likelihood of a reaction if price revisits it.

A decisive breach and acceptance above the 30 level would be an important shift in structure. In that scenario, upside momentum could extend toward the 36 resistance, which marks the next major technical target on the chart.

HYPE price target

With HYPE holding above a well-established support zone and supported by renewed buying interest, the near-term structure appears to be stabilizing. As long as price remains above 25, the risk of deeper downside looks more contained.

A breakout above 30 would be needed to unlock further upside potential toward 36, while failure to reclaim that level may keep price range-bound as the market digests both recent gains and the upcoming token unlock.