Recent fluctuations in the Hyperliquid (HYPE) token have piqued traders' interest. We will examine the current situation and potential scenarios for the near future.
Current HYPE Market Situation
After dipping to $35.53 in late July, HYPE price surged and nearly touched $50 in early August. However, since then it hasn't chosen a clear direction and is currently trading around $45.39.
Market Indicators and Their Significance
The trading volume sits at about 21.7K, indicating low trader activity. Open interest has dropped to $5.23M, and positioning between long and short trades is balanced, explaining why HYPE price feels stuck in a range.
September Outlook
For September, HYPE is likely to continue oscillating between $42 and $49. A clear break above $50 could restore momentum and open the door towards $55. Conversely, losing support in the low $40s might pull it back towards $35.5.
With the current neutral sentiment in the HYPE market, the key question remains whether buyers can push above the $50 mark, or if bears are ready to regain control.
