Hyperliquid Price Prediction: HYPE Bulls Target $38 as Technical Indicators Flip Bullish

Highlights:

• The Hyperliquid price is exchanging hands at $34, despite the trading volume being down 26%.
• Hyperliquid Strategies Inc. has transferred 12 million HYPE tokens to Hypercore, initiating staking.
• The HYPE technical outlook shows building bullish muscles reinforced by the positive technical indicators.

The Hyperliquid (HYPE) price is currently exchanging hands at $34, indicating a 1% rise in the past 24 hours. Meanwhile, Hyperliquid Strategies, Inc. (PURR) has sold 12 million of HYPE tokens to Hypercore and pledged 425,000 tokens, a good sign of confidence in the HYPE market. The technical outlook of HYPE continues to be positive with the bulls rekindling the buying momentum and a trend towards the breakout above the falling channel.

Hyperliquid Strategies Inc. (PURR) is a publicly traded company formed by the merger between Sonnet BioTherapeuticals Holdings, Inc., and Rorschach I LLC. It owns 12 million HYPE tokens (1.20% of the total supply) and has $300 million in cash. MLM on-chain data shows that on Wednesday, these 12 million HYPE tokens were moved to Hypercore off of HyperEVM, in 32 wallets, showing all of their holdings. 

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— MLM (@mlmabc) December 4, 2025

PURR had been staking 425,000 HYPE tokens on the Figment Anchorage node, which is an indicator of the increasing trust in the perpetual exchange token. 

Hyperliquid Price Poised for a Rally to $38 Soon

The 1-day HYPE/USD chart shows Hyperliquid’s price at $34, with the 200-day and 50-day Simple Moving Averages (SMAs) positioned above it. This indicates that the MAs are acting as barriers against further upside.

The 50-period SMA at $38 and the 200-period SMA at $41 are holding steady, showing some solid resistance. This shows that the bulls still have a tussle unless they break above the immediate barrier at $38.

The Relative Strength Index (RSI) at 45.76 has rebounded from an oversold region, as the bulls are still grinding to break above 50. However, it is not yet there, so there’s room to run. The Moving Average Convergence Divergence (MACD) is bullish, with the blue MACD line soaring above the signal line (orange).

Hyperliquid price is facing some resistance around the $38 zone, aligning with the 50-day SMA. This barrier has suppressed the price in the past. If HYPE breaks and holds above this level, the token might target the next resistance at $41, an 18% leap from current levels. 

On the flip side, if the bears take control and push the Hyperliquid price below the current levels, traders could expect a slide toward $30 or even $29. HYPE’s trading volume has, however, dropped 26%, indicating some dwindling trading activity in the market. Still, the Hyperliquid price is showing a bullish potential reinforced by the bullish technical indicators. Traders should keep an eye on broader crypto trends and sentiment on X, because FOMO could either boost or end this run.

In the short term, the HYPE price has the potential to reach $38 if momentum persists. In the long term, breaking $38 could signal an 18% parabolic move to $41, from current levels. However, a pullback to $30 is also imminent if the resistance zones prove too strong.