Hyperliquid (HYPE) Holds $29 Support, Eyes Breakout

Hyperliquid (HYPE) has shown early resilience today, finding crucial support near $29, which could underpin further gains amid a generally weak crypto market. Analysts highlight that defending this level is critical for momentum toward higher levels, though resistance near $34–$37 could trigger short-term pullbacks.

As of November 12, 2026, HYPE is trading at $30.58 with a trading volume of $645.68 million. The market capitalization is at $7.94 billion, and the token has a dominance of 0.35%. The token has shown a 6.3% increase, outperforming the majority of other tokens in the market despite the weak market conditions.

Source: CoinGecko

Hyperliquid Eyes Upside as $29 Support Holds Strong

Hyperliquid is consolidating around the $29 level, establishing a possible support area that could propel a strong comeback, according to a recent post by CryptoPulse.

Its current trading range is close to $37, indicating strong potential for upward movement. As long as buyers successfully defend the $29 level during pullbacks, the pace towards the highs of the trading range could quicken, making this level critical.

Source: X

Also Read | RENDER Holds Falling Wedge as Analysts Eye Targets Up to $12

Short-Term Gains Depend On $29 Hold

HYPE had previously dropped to around $20, leading to oversold conditions that helped initiate the current upward movement. Analysts predict that if HYPE cannot break through the strong resistance at $34-$37, it could lead to pullbacks, possibly retracing up to 50% of the recent price gains. If bearish pressure escalates, additional support levels at $20 and the April low of $9 could be in focus.

Source: TradingView

Current technical analysis suggests that momentum is weak but is gradually strengthening. On-chain data reveals increasing investor interest, while trading volumes confirm increased buyer participation. Market analysts stress that short-term gains are dependent on HYPE staying above $29, with any strong break above $37 likely to indicate a fresh positive trend.

The current price movement of Hyperliquid illustrates its strength in a falling crypto market, reflecting both opportunities and challenges. Investors are encouraged to exercise caution when managing their holdings and refer to credible sources for price updates.

Also Read | SEC Chair Faces Tough Questions on Crypto Shift and Justin Sun Probe