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HYPE price rises above $56.80 on strong Q2 revenue and token buybacks, eyeing breakout above $57.

Protocol Fundamentals
07 Aug 2026
Crypto news
View Source
Bullish
HYPE price rises above $56.80 on strong Q2 revenue and token buybacks, eyeing breakout above $57.

HYPE token price climbed above $56.80 after Hyperliquid reported $169 million in Q2 revenue and allocated $141 million to token buybacks, supporting demand. The price rebounded from a $51 support level and is testing a breakout above a descending channel with resistance near $57.20. While momentum is improving, the token remains 26% below its June peak, and overbought signals suggest possible short-term consolidation. Analysts are divided on whether HYPE will break higher toward $60 or retreat toward $50, with competition and market conditions influencing the outlook.

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