Hyperliquid Price Forecast: HYPE rally stretches thin amid treasury growth, CFTC innovation push

• Hyperliquid edges lower by 2% so far on Friday, after hitting a record high of $86.75 the previous day.
• Hyperliquid Strategies raised nearly $650 million in an equity deal, doubling its HYPE treasury to 29.3 million HYPE. 
• Hyperliquid Policy Center urges the CFTC to allow perpetual futures markets in the US as a risk-management tool for the US markets.

Hyperliquid (HYPE) is down 2% on Friday after reaching a record high of 86.75 the previous day. Nasdaq-listed Hyperliquid Strategies Inc (PURR) raised almost $650 million in an equity deal to increase its HYPE holding to 29.3 million tokens. Hyperliquid is also pushing to expand its perpetual futures markets in the US. 

Treasury growth, CFTC innovation push

Hyperliquid Strategies Inc reportedly raised $647 million through an equity deal to increase its HYPE treasury from 12.5 million tokens to 29.3 million HYPE tokens. The balance sheet also shows $149.9 million in cash and cash equivalents and zero debt. This increase in HYPE treasury indicates growing corporate demand and suggests long-term upside potential.

On the regulatory side, Hyperliquid and Perpetual contracts emerged as a central agenda at the US CFTC’s Innovation Advisory Committee meeting on August 20. Hyperliquid Policy Center submitted a statement to promote perpetuals in the US market and to push for on-chain infrastructure for the US derivatives market. In addition, Hyperliquid approved the “AQAv2” proposal on Wednesday, enabling buyback and burn of HYPE tokens using USDC reserve yields, with operations scheduled for October 3.

Taken together, the innovation push to enter the US market amid rising corporate interest signals strong upside potential in Hyperliquid.

Technical outlook: Will Hyperliquid's price surpass $90?

Hyperliquid trades around $82.92 on Friday, sustaining its strong bullish phase above its 50-day Exponential Moving Average (EMA) at $65.21 and the 200-day EMA at $53.91, reinforcing a firmly upward bias. The HYPE rally advances into the price discovery, sustaining last week's 43% gains.

Momentum remains constructive but looks stretched, with the Relative Strength Index (RSI) at 73 on the daily chart holding in overbought territory. At the same time, the Moving Average Convergence Divergence (MACD) still maintains a positive slope, but the bullish histogram profile is easing, hinting at waning upside momentum.

From a technical perspective, the 127.2% Fibonacci extension, measured from $76.94 to $51.20, is at $83.93 and serves as the immediate resistance. A confirmed breakout above this level could open the path toward the 161.8% extension level at $92.83.

On the downside, initial support emerges around the prior Fibonacci swing high at the 100% retracement level of $76.94, with additional layers of demand clustered between the 78.6% retracement at $71.42 and the 50% level at $64.06.

(The technical analysis of this story was written with the help of an AI tool. Know more.)