#HYPEContinuesToHitAll-TimeHighs

HYPE is no longer simply testing its previous highs—the market is now deciding whether the next move will be another breakout into price discovery or a deeper cooling phase.

HYPE is trading around $83.2 after recently reaching approximately $86.6–$86.7. The rejection from that area was sharp, with price falling toward the high-$78s before buyers stepped back in and recovered a large part of the move.

That reaction is important.

Buyers are still active, but $85–$87 is clearly attracting strong selling pressure.

Key Levels to Watch

$85–$87: Major resistance / breakout zone

$78–$80: First major support

$75–$76: Deeper support if $78 breaks

$90–$92: Next upside target if price enters fresh price discovery

The bullish structure remains intact as long as HYPE can continue holding the $78–$80 region.

A clean daily close and acceptance above $86–$87 could strengthen the breakout setup and potentially open the path toward the $90–$92 psychological zone.

But chasing the rally blindly is also risky.

HYPE has moved rapidly from around $69.60 on August 19 into the mid-$80s, with trading activity expanding significantly along the way. Strong volume confirms growing participation, but fast rallies can also attract aggressive profit-taking when momentum starts to cool.

Fundamental Catalyst

Hyperliquid has also introduced AQAv2, with yield from USDC reserves directed toward HYPE buybacks and burns. The first payment into the buyback mechanism is scheduled for October 3.

This could become an additional demand factor for HYPE, although I would not treat it as a guaranteed price catalyst.

My Current View

For me, the most important question isn't where the next candle goes.

It is whether HYPE can build acceptance above the previous high instead of repeatedly getting rejected from the $85–$87 zone.

Bullish scenario: Hold $78–$80 → reclaim $86–$87 → potential move toward $90–$92.

Bearish scenario: Lose $78 with conviction → deeper consolidation toward $75–$76.

HYPE has already shown extraordinary momentum. Now the market needs to prove that these new highs can become a foundation for the next leg higher rather than a temporary peak.

What are you watching—$87 breakout or $78 support?
@Gate_Square