Hyperliquid USD Jumps 9% to $92.66 After Kraken Futures Deal

Hyperliquid USD jumped 9% to $92.66 in 24 hours, extending a rally that began when Kraken’s parent company announced plans to launch regulated perpetual futures on the Hyperliquid blockchain. The move also reflects the September 18 launch of manual borrowing, which lets users supply HYPE or Bitcoin as collateral to borrow stablecoins. Trading volume hit 869 million, 41% above the 30-day average, signaling strong retail and institutional interest in the token’s expanding utility.

Why HYPEUSD broke above $93 overnight

HYPEUSD rallied from $85.01 to $92.66 in one day, driven by two catalysts: the Kraken announcement and the manual borrowing feature launch. The token surged 18% to $94.46 on September 19 before pulling back 2%, a typical consolidation after a sharp move. No liquidation cascade or sector-wide selling triggered the dip; instead, profit-taking and a 35% drop in 24-hour volume suggest traders are digesting gains.

Technical picture shows overbought conditions but strong trend

The RSI stands at 69.2, just below the 70 overbought threshold, while the ADX reads 38.73, indicating a strong uptrend. Price sits above the upper Bollinger Band at 89.74, a sign of momentum but also potential mean reversion. The MACD histogram is negative at -0.24, suggesting the rally may be losing steam in the very short term, though the signal line remains above zero.

Forecast data shows pullback risk in coming months

Meyka’s 1-month forecast stands at $75.85, implying an 18.1% decline from current levels. The 12-month forecast is $63.10, a 31.9% drop, reflecting profit-taking and consolidation after the recent surge. These targets assume no new catalysts; regulatory approvals or expanded exchange listings could shift the outlook higher.

Support at $90 is the key level to watch

The $90 mark, a former resistance level, now acts as psychological support. A daily close below $90 could trigger selling toward the low $80s. Volume at 869 million remains elevated, but the 35% drop from the peak suggests momentum is cooling. Traders should monitor whether HYPE can hold $90 or if profit-taking accelerates.

Final Thoughts

HYPEUSD’s 9% jump reflects real utility expansion and regulatory progress, not hype alone. With RSI near overbought and forecasts pointing to a pullback, the next move depends on whether the token can defend $90 or if consolidation deepens into a correction.

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Disclaimer:

Cryptocurrency markets are highly volatile. This content is for informational purposes only. The Forecast Prediction Model is provided for informational purposes only and should not be considered financial advice. Meyka AI PTY LTD provides market data and sentiment analysis, not financial advice. Always do your own research and consider consulting a licensed financial advisor before making investment decisions.