![\"Hyperliquid](\"https:\/\/coinjournal.net\/wp-content\/uploads\/2026\/07\/Hyperliquid-price-outlook.png\")
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- Hyperliquid price holds above key support as traders watch the $61.92 level.<\/li>\n
- Bitcoin\u2019s move around $63,000 could shape HYPE\u2019s next direction.<\/li>\n
- Hyperliquid\u2019s total open interest has climbed to nearly $11 billion.<\/li>\n<\/ul>\n
Hyperliquid (HYPE) has entered a crucial phase after retreating from its recent record high, with traders closely watching whether the token can stabilise above key support levels.<\/p>\n
The latest pullback comes as broader cryptocurrency markets react to rising geopolitical tensions, leaving Bitcoin\u2019s next move at the centre of attention.<\/p>\n
However, while HYPE has lost momentum over the past week, the network continues to post strong trading activity, creating an interesting contrast between short-term price action and underlying platform growth.<\/p>\n
Hyperliquid price tests support after weekly decline<\/h2>\n
HYPE is trading around $65, down 7.0% over the past seven days after reaching an all-time high of $76.87 on June 16.<\/p>\n
The correction has pushed the token toward an important support area between $64 and $65, where buyers have started defending prices.<\/p>\n
The next few trading sessions could prove decisive.<\/p>\n
If the Hyperliquid price manages to reclaim $67 with stronger buying volume, the token could make another attempt at the $70 level.<\/p>\n
However, a failure to hold the current support zone would shift attention to $61.92, which has emerged as the next major technical floor.<\/p>\n
A break below $61.92 could expose the token to additional downside, with $60 becoming the next area traders are likely to monitor.<\/p>\n
Bitcoin remains one of the biggest external factors influencing that outlook.<\/p>\n
The broader market has been under pressure following renewed geopolitical uncertainty, and Bitcoin\u2019s ability to remain above $63,000 is viewed as an important signal for risk assets across the cryptocurrency market.<\/p>\n
If Bitcoin maintains above $63,000, it could provide enough stability for HYPE to consolidate. A move below it, on the other hand, could trigger another wave of selling across altcoins.<\/p>\n
Technical indicators point to mixed short-term momentum<\/h2>\n
The latest technical indicators suggest that HYPE has not yet established a clear directional trend despite the recent correction.<\/p>\n
The Relative Strength Index (RSI) currently stands at 47.99, placing it in neutral territory.<\/p>\n
This indicates that the token is neither overbought nor oversold, leaving room for either buyers or sellers to take control depending on broader market conditions.<\/p>\n
![\"Hyperliquid](\"https:\/\/coinjournal.net\/wp-content\/uploads\/2026\/07\/HYPEUSD_2026-07-13_12-58-27.png\")
<\/p>\nExponential moving averages paint a more constructive picture over a longer timeframe.<\/p>\n
HYPE continues to trade above its 50-day, 100-day and 200-day exponential moving averages (EMAs), signalling that the broader uptrend remains intact despite the recent decline.<\/p>\n
At the same time, the token has dropped below its 10-day and 20-day EMAs, showing that short-term resistance remains in place before momentum can fully recover.<\/p>\n
This combination of indicators suggests that while the long-term forecast remains positive, the near-term direction will depend on whether buyers can regain control around current price levels.<\/p>\n
Hyperliquid platform activity continues to expand<\/h2>\n
Although HYPE has pulled back from its recent highs, activity on the Hyperliquid ecosystem continues to grow.<\/p>\n
The protocol\u2019s total value locked (TVL) stands at approximately $6.013 billion, reflecting continued capital committed to the platform.<\/p>\n
At the same time, 24-hour trading volume remains close to $296 million, highlighting sustained market participation despite recent volatility.<\/p>\n
Another notable development is the rapid growth in derivatives activity. Total open interest has climbed to roughly $11 billion, while real-world asset (RWA) perpetual contracts account for approximately $3.6\u00a0 billion of that figure.<\/p>\n
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Real-world asset (RWA) open interest on Hyperliquid reached a new ATH of $3.6B<\/p>\n