- Multiple whale wallets have deposited over $37M in USDC to accumulate HYPE across different price levels, signaling long-term confidence.
- Despite strong accumulation, HYPE remains under short-term selling pressure, with $23 acting as a critical support zone.
- A confirmed weekly low is still needed before any sustainable move toward higher targets like $33–$34 can take shape.
Large investors are quietly stepping into HYPE, and the flow of capital suggests this isn’t random. Data shared by Lookonchain shows sizable USDC deposits moving into Hyperliquid over a relatively short window, pointing to a clear accumulation phase rather than short-term speculation.
One standout wallet, labeled 0x5Ae4, deposited $20 million in USDC and placed limit buy orders around the $15 level. Another wallet, 0xE867, followed with a $10 million USDC deposit and now holds roughly 926,488 HYPE tokens, valued near $22.4 million at current prices. These aren’t casual trades. They look planned, patient, and intentional.
A third whale, 0x23Af, added to the picture by spending $7.1 million USDC to acquire 277,420 tokens at an average price of $25.6. The fact that accumulation is happening across multiple price zones suggests confidence isn’t tied to one exact entry. HYPE, at least for now, remains firmly on the radar of larger players.
Short-Term Pressure Remains Despite Strong Buying Interest
While whale accumulation is clearly visible, price action hasn’t fully reflected that confidence yet. Analyst Hyper_Up noted that HYPE is still dealing with notable selling pressure, as the broader market structure continues to lean bearish. At the time of analysis, the token was trading around $23.55, sitting inside what’s described as an AF accumulation zone.
This area is known for short-term reactions, not guaranteed reversals. A clean break below $23 could expose HYPE to deeper downside, with levels as low as $16 entering the conversation. That wouldn’t necessarily invalidate the longer-term thesis, but it would delay any meaningful recovery.
Before a true bottom can be confirmed, the weekly chart needs to cooperate. Analysts are watching closely for signs like a weekly fractal or clear liquidity confirmation. Without that, any bounce remains tentative, more reactionary than structural.
Bigger Picture Still Tied to the $50 Swing High
Zooming out, the broader correction is still unfolding relative to HYPE’s previous swing high near $50.15. From that perspective, the market hasn’t finished its work yet. Once a confirmed weekly low is in place, conditions could shift toward range-building rather than continued decline.
If that happens, analysts see a potential pivot forming in the $33 to $34 zone as a corrective target. Until then, buying remains cautious and selective. Accumulation is happening, yes, but confirmation hasn’t arrived.
For now, HYPE sits in an in-between phase. Big money is positioning early, but the chart still demands patience. The next few weekly closes will matter more than any single intraday move.
