- HYPE needs to bounce back to $62.16 to meet the next resistance at $64.55.
- HIP-4 brings unlicensed prediction markets to Hyperliquid.
- Creating a market requires a 500,000 HYPE contract with an expensive risk.
Hyperliquid (HYPE) has been trading for the past month below the mid-June bull, but a major protocol upgrade is attracting more attention to the cryptocurrency.
The combination of technical fundamentals and the promotion of HIP-4’s unlicensed forecast markets has revived the prospect of another test above $62.
HIP-4 brings unlicensed prediction markets to Hyperliquid
The HIP-4 reconstruction introduces unlicensed prediction markets, allowing qualified individuals to make markets directly on the network instead of relying on an official state-run system.
Prediction markets enable users to trade future events, including elections, sporting events, economic growth, and crypto currency– related events.
Rather than operating as a separate program, these markets will be run on existing Hyperliquid trading alongside regular products.
The upgrade is designed to use the same book, wallet and trading accounts that already support the native protocol.
This approach allows the prediction markets to integrate with Hyperliquid’s trading platform instead of creating a standalone platform.
The HIP-4 standard is a financial requirement set for market makers.
Anyone who wants to set up an unlicensed prediction market must submit a bond of 500,000 HYPE before the market starts.
Based on HYPE’s current price of around $60.92, that requirement represents approximately $30.5 million worth of tokens.
The bond also has a cutoff risk, meaning that part or all of it could be lost if the market maker breaks the protocol or does bad things.
This strategy aims to promote accountability while protecting the integrity of online marketplaces.
This concept also extends the useful function of HYPE within the protocol.
In addition to its existing functions, the token has a significant financial impact by introducing new prediction markets, linking participation in the network directly with token ownership.
Hyperliquid price analysis
Hyperliquid’s native token, HYPE, was trading at $60.92 at the time of writing, down 0.2% in the past 24 hours.
At the same time, the indicator moved between $ 59.85 and $ 61.57, showing the value of the price.
Overall, recent performance has been weak on longer time frames, with HYPE down 5.4% over the past seven days, 12% over the past two weeks, and 14.1% over the past 30 days.
Despite this, the indicator is still 33.4% higher than a year ago, indicating that the trend is stronger than the recent pullback suggests.
Historically, HYPE is trading about 21.2% below its all-time high of $76.87, which was reached on June 16, 2026.
In addition, Hyperliquid continues to attract major events throughout the universe.
The protocol is currently protected by approx $6.069 billion in total closed value (TVL)while the 24-hour trade represents about $ 268.29 million, showing continued participation despite the recent drop in prices.
Technical indicators put $62.16 on the proposal
Price action has now shifted focus to a number of technical indicators that can determine where the HYPE is headed.
The first major resistance is at $62.16. A daily close above that level would create the next resistance near $64.55, making $62.16 one of the most watched levels on the chart.
Underneath, HYPE is trading near an important support level at $60.74. Maintaining that level would help stabilize the current prices, while a break below would shift attention to the next support at $59.18.
Momentum indicators also show that the market has not yet reached a critical point.
The Relative Strength Index (RSI-14) is currently reading 42.89, placing it in a neutral position rather than overbought or oversold.
Moving averages, however, present a mixed picture.
HYPE remains below its 10-day, 20-day, and 50-day levels, indicating that the short-term bullishness is still down.
However, the indicator continues to trade above both the 100-day and 200-day moving averages, ie. a long-term view it is still there even though it has been repaired recently.
