Hyperliquid (HYPE) Price Prediction: HYPE Tests $86.3 Support Amid Heavy Whale Selling

The decline has brought short-term technical support into focus, while whale transfers and continued treasury accumulation create competing forces around the Hyperliquid price.

Hyperliquid Price Faces Key Support

HYPE climbed to a record near $98.04 on September 23 before entering a multi-session correction. According to OKX historical data, the token closed around $86.33 on September 29 after reaching an intraday low near $85.64. On September 30, Hyperliquid traded around the mid-$80s, keeping the $86.3 area relevant to the near-term price structure.

HYPE holds around $85.13 after a sharp selloff, with a potential bounce above $86.30–$86.50, but key resistance remains ahead. Source: sean78808 on TradingView

The move represents a notable reversal from the late-September rally. HYPE had traded above $94 for several sessions before sellers pushed the token below $90. The decline accelerated on September 28, when the token fell more than 4% during the session.

TradingView analyst Sean78808 identified $86.3-$86.5 as an immediate downside decision zone. The analysis also places the first reclaim area around $87.2-$87.5, followed by stronger resistance between $88.2 and $89.

The analyst wrote, “Avoid chasing current lows,” while noting that a recovery above $86.3 could bring $87.2 back into focus. A sustained break below the support zone, meanwhile, would expose the $84-$84.5 area identified in the analysis.

Whale Transfers Add Selling Pressure

On-chain activity has added another layer to the HYPE price outlook. Lookonchain-tracked data showed one wallet transferring 177,518 Hyperliquid, worth about $16.08 million, to OKX and Bybit. A separate wallet linked to Hypersphere Ventures sold 62,869 HYPE for approximately $5.78 million.

Whale activity increased around HYPE, with one wallet depositing $16.08M worth of tokens to OKX and Bybit, while a Hypersphere-linked wallet sold $5.78M worth. Source: Lookonchain via X

The Hypersphere-linked transaction represents a confirmed sale, with the wallet reportedly realizing about $2.13 million in profit after acquiring the tokens roughly one month earlier. The other $16.08 million transfer to exchanges should be treated differently: moving tokens to a centralized exchange can precede a sale, but the transfer itself does not establish that the tokens were sold.

The distinction is important when assessing whale selling. Large deposits can increase the amount of HYPE potentially available to the market, but blockchain data alone cannot determine whether an exchange deposit was intended for immediate liquidation, custody, trading, or another strategy.

Earlier activity from Multicoin Capital provides a similar example. The investment firm transferred another 130,331 Hyperliquid worth about $12.15 million to Coinbase Prime on September 24, bringing its cumulative transfers to roughly 4.23 million tokens since July 28. However, the transfer did not prove that Multicoin had sold the tokens because Coinbase Prime also provides institutional custody and execution services.

Treasury Buying Counters Whale Supply

While some large holders have moved HYPE toward exchanges, Hyperliquid Strategies has continued accumulating the token.

A wallet linked to the treasury company purchased 494,200 HYPE worth about $45.8 million in late September. The transaction extended its one-month accumulation to roughly 5.51 million tokens, with total holdings reported at approximately 35.1 million tokens valued near $3.2 billion.

HYPE faces competing flows, with Hyperliquid Strategies adding $45.8M while whales and Multicoin moved over $100M worth of tokens toward potential selling. Source: Rios via X

This creates a notable contrast in the Hyperliquid market. Some large holders are transferring or selling tokens, while a major treasury holder is adding exposure. Five whales were also reported to have begun unstaking approximately $90.4 million worth of tokens, while the Multicoin transfer added another $12.15 million of tokens to an institutional platform.

Unstaking does not automatically translate into immediate selling. The timing of any subsequent market supply depends on whether holders transfer, sell, or retain their tokens after the unlocking process.

HYPE Price Prediction: $86.3 Support in Focus

From a technical perspective, the $86.3-$86.5 region remains an important level for the near-term HYPE price prediction.

A sustained recovery above $87.2-$87.5 would put the $88.2-$89 resistance zone back into focus. That area previously acted as a trading region and could become an important test if buyers regain control of the short-term trend.

HYPE trades near $90, with liquidity concentrated between $88 and $95, leaving room for sharp moves in either direction. Source: @Crypt00catalyts via X

Conversely, a decisive break below $86.3 followed by a failed recovery attempt would weaken the immediate structure. The next technical area highlighted by the TradingView analysis is around $84-$84.5, with $85.5 and $85.1 also identified as intermediate levels during a deeper pullback.

The recent price history shows why the support zone matters. Hyperliquid has already moved from an all-time high near $98 to the mid-$80s in less than a week, leaving the token considerably more volatile than it was earlier in September.

Macro Data Could Influence HYPE Volatility

The broader market is also approaching an important macroeconomic event. The U.S. Bureau of Economic Analysis scheduled its August Personal Income and Outlays report, which includes the PCE price index, for September 30 at 8:30 a.m. EDT. The PCE price index is closely monitored as a measure of consumer inflation and is watched by the Federal Reserve when assessing monetary policy.

Hyperliquid (HYPE) price chart. Source: Brave New Coin

The latest available July data showed annual PCE inflation at 3.7%, while core PCE, which excludes food and energy, was 3.3%.

For HYPE, the release could add volatility if it changes expectations around interest rates, liquidity, and broader risk assets. That makes the reaction around $86.3 potentially more informative than a brief intraday move through the level.

Finally, the HYPE price prediction centers on whether buyers can defend the mid-$86 area while absorbing potential whale supply. A recovery toward $87.2-$89 would provide evidence of renewed demand, while a sustained move below $86.3 would shift attention toward the lower support levels identified by the technical analysis.