The chart shows a token stuck between a ceiling that keeps working and a floor that has not failed. Coindoo owner Filip Vantchev wrote on X that HYPE “continues to get rejected at the 0.236 Fib Resistance,” near $67.8, and that the rejection combined with a break below the local trendline “shifts momentum slightly in favor of the bears.” The qualifier matters: the 50-day moving average at $65.32 is still providing support, price is sitting almost exactly on it, and the broader uptrend from the $35.74 base remains intact.
With the daily RSI near 49, momentum is neutral enough that neither scenario carries a head start.
The decline is probably not entirely HYPE-specific. It also reflects the broader macro backdrop, with Bitcoin itself breaking below its rising channel and adding pressure across the sector.
The tension in the setup is that the business metrics point the opposite direction from the price. Hyperliquid wrote on X that real-world asset open interest on the platform reached a new all-time high of $3.6 billion, while total open interest hit $11 billion, its highest level of 2026. The RWA figure is the more strategic of the two: it means the venue best known for crypto perpetuals is becoming a meaningful derivatives market for tokenized traditional assets, the fastest-growing segment of the year, and doing it in the same month Robinhood Chain briefly took its daily DEX volume crown.
Real-world asset (RWA) open interest on Hyperliquid reached a new ATH of $3.6B
Total OI reached a new high for 2026 of $11B pic.twitter.com/FJyeuUq0ya
— Hyperliquid (@HyperliquidX) July 13, 2026
The link between those records and the token is mechanical rather than sentimental. Hyperliquid routes the overwhelming majority of its trading fees into its Assistance Fund, which continuously buys HYPE on the open market, so rising open interest feeds directly into a structural, volume-driven bid under the token. Record OI does not guarantee a rally, but it raises the floor the buybacks build over time, which could be a part of why the 50-day has held every test of this advance so far.
The third dataset explains who is not being forced to sell. Artemis data shows that among digital asset treasury companies, only Hyperliquid Strategies and Hyperion hold positions with positive unrealized PnL, while the rest of the sector, led by Strategy’s roughly $9.8 billion paper loss, sits underwater on its average cost basis.
For HYPE, that detail removes a supply risk that currently might be hanging over Bitcoin and Ethereum: treasuries in profit face no balance-sheet pressure to liquidate, unlike the distressed cohort whose possible selling the broader market can start to price in.
The combination frames the week ahead simply. The token has record platform usage, a mechanical buyback bid, and profitable treasury holders stacked against a chart that keeps failing at $67.8. The daily close could provide the first hint about direction, while tomorrow’s U.S. CPI release may determine whether the broader macro backdrop reinforces or reverses that signal.
The post HYPE Price Analysis Shows Bearish Momentum appeared first on Coindoo.
