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HYPE price rebounds 8.2% from $51 support, breaking descending channel and eyeing $58 resistance.

Technical Signals
04 Aug 2026
Crypto news
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Bullish
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HYPE token price rose to $55.60 after bouncing from a strong $51 support zone, breaking out of a descending channel on the 4-hour chart and reclaiming a bullish Supertrend indicator. This recovery is supported by increased buying pressure and Hyperliquid’s fee-funded token buybacks, which create recurring demand. The token now faces resistance between $57.28 and $58.14, with a successful break above this range potentially targeting $60. However, failure to hold above $54.30 could lead to another test of lower support levels near $52.83 and $51. The broader altcoin market’s weak liquidity and regulatory uncertainties in the US remain key risks.

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