Hyperliquid (HYPE) Targets $65 — August 2026 Outlook

Hyperliquid (HYPE) has fallen nearly 17% over the past month, but its broader performance in 2026 remains impressive. Despite widespread selling pressure across the crypto market amid geopolitical uncertainty and broader market pullbacks, HYPE is still up around 120% year to date, positioning it as one of the stronger-performing major cryptocurrencies this year. Following its recent correction, the key question is whether HYPE can regain momentum or whether further downside could follow.

Hyperliquid (HYPE) technical analysis

HYPEUSD - 1 Day Time Frame

Currently trading around $56, HYPE sits between two important short-term levels. Immediate support is located around $52, an area that also provided support in mid-June 2026. Holding above this level could help stabilize the recent correction and provide a foundation for another attempt higher.

On the upside, the first key level to watch is $58. This area currently acts as resistance and represents the nearest obstacle for buyers. A convincing move above $58, followed by the price holding above the level, could turn the former resistance into support and strengthen the short-term bullish outlook.

The broader chart remains relatively constructive despite the recent monthly decline. HYPE continues to trade well above its major support around $38, from which a strong rally developed in May. However, failure to hold the immediate $52 support could weaken the current structure and increase the possibility of a deeper correction.

Hyperliquid (HYPE) price target

If HYPE breaks above $58 and successfully establishes the level as support, buying momentum could strengthen, bringing the next resistance around $63 into focus. This area was last tested in late July and could represent the next important hurdle for buyers.

A successful break above $63 could open the way toward the more significant $73 resistance, which marked a major local high in July. Reaching this level would represent a notably bullish scenario and would require HYPE to overcome several recent areas of selling pressure.

Conversely, if buyers fail to reclaim $58, HYPE could continue consolidating between the immediate $52 support and $58 resistance. A decisive move below $52 could increase downside pressure and shift attention toward lower support levels, with the major $38 area remaining an important longer-term reference point.

Much of HYPE's next move could also depend on broader cryptocurrency market sentiment, macroeconomic conditions, and geopolitical developments. For now, the reaction around $52 and $58 could provide the clearest indication of whether HYPE's recent correction is stabilizing or has further room to run.

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