Hyperliquid Price Forecast – HYPE Breakout Puts $59 High in Focus as Trading Volumes Surge

Highlights:

• Hyperliquid surged intraday as rising volume and whale buying boosted bullish momentum.
• Growing real-world asset trading, especially oil activity, is increasing demand for HYPE.
• ETF inflows and a key breakout have raised hopes for a retest of the $59.44 all-time high.

Hyperliquid (HYPE) is making strong intraday gains, outpacing a broader market that is yet to show direction. When writing, HYPE was trading at $48.08, up by 6.52% in the day. 

Hyperliquid trading volumes are also on the rise in the day, up 5.38% to stand at $731.71 million. The rising volumes hint at strong buying pressure, suggesting HYPE could rise in the short term. Multiple factors could send HYPE higher in the short- to medium-term. 

Aggressive Whale Accumulation Pushing

Hyperliquid Price Higher

One of them is that whales are entering Hyperliquid in force. In the last few days, as cryptocurrencies have faced a selloff, smart money has been accumulating HYPE below $40. A notable example of aggressive accumulation is a whale selling $7.83 million in Gold and pushing the entire amount into HYPE.

Whales are buying $HYPE

Whale "0xF56" sold 1,733 $XAUT for $7.83M at $4,520), then deposited $10.2M $USDC into #HyperLiquid and bought 103,636 $HYPE (~$4.7M) and also opened a $HYPE long position with 5x leverage.

Whale "0x688" deposited $4.87M $USDC into #HyperLiquid and… pic.twitter.com/Y9zhy2V9J8

— Onchain Lens (@OnchainLens) May 17, 2026

Another whale bought $205,691 HYPE worth $9.57 million. All this has not only pushed HYPE back above $40, but is pushing it close to $50. As these large-scale buyers keep coming in, retail money is also starting to flow back into HYPE. This could send HYPE even higher, potentially setting new all-time highs. That’s even as the rest of the market remains largely stagnant. 

Surge In Oil Trading Adds to HYPE Demand

HYPE has also got a boost from the fact that real-world assets are increasingly being traded on the platform. One of the standout real-world assets that is driving Hyperliquid activity is oil. Yesterday, May 18, oil prices saw significant volatility. That’s because the markets were waiting to see if the US would extend the waiver on Russian oil sanctions. The period between the wait and the actual extension decision saw oil become one of the most traded assets.

🚨RWA $HYPE JUST HIT A NEW ATH!@HyperliquidX RWAs just hit an ATH of $2.6B in open interest, which is DOUBLE where it was just two months ago🤯 pic.twitter.com/Rg6Hw4hZfE

— ALLINCRYPTO (@RealAllinCrypto) May 19, 2026

Hyperliquid, in particular, saw a significant spike in oil trading volume on the platform. The same activity is reflected in HYPE’s price. If the level of activity on oil trades and other RWAs continues to surge, Hyperliquid could be headed much higher in the short to medium term. 

Positive Hyperliquid ETF Reception Adds to Upside Momentum

Hyperliquid is also getting a boost from the fact that it now has an ETF, and the reception is already quite strong. So far, Hyperliquid has seen net inflows, putting pressure on supply. Going by the economic laws of demand and supply, Hyperliquid could be headed much higher in the short term.

That’s because Hyperliquid ETFs are likely to continue attracting new capital going forward. This is especially true now, as its price is increasingly outperforming the broader cryptocurrency market. Still on the increasing demand, Hyperliquid has also landed a partnership with Circle. This is a factor that could send HYPE even higher in the foreseeable future. 

Technical Analysis – HYPE Breaks Out of Multi-day Consolidation

HYPE is gaining upside momentum after breaking out of a multi-day consolidation between the $44.59 resistance and $38.69 support. This breakout, accompanied by strong volume, now puts the $59.44 all-time high within reach in the short term.

If bulls are strong enough to push HYPE through the $59.44 all-time high, HYPE could be headed to prices as high as $150, which some analysts have predicted in recent times. However, if bulls lose momentum, HYPE could consolidate above $44.59, which is now support.

If Hyperliquid breaks the $44.59 price level, a correction to $38.69 could follow. With the recent ETF launch and growing whale accumulation, the odds of a short-term rally to the $59.44 high are higher.