Is HYPE Set to Skyrocket 70%? Whale Bets Big with $12 Million Long Position

Jakarta, Pintu News – Hyperliquid (HYPE) has experienced a 17% decline from its all-time high of $45 recorded earlier this week.

On June 19, HYPE’s price was trading at $37 with daily trading volume reaching $460 million, indicating interest from traders is still high.

Meanwhile, the technical structure showing an uptrend on the daily chart and the activity of large investors (whales) indicate that a potential price increase of 70% could be imminent.

Is HYPE Price Poised for Another 70% Rally?

After recording an uninterrupted uptrend since April, the HYPE token has formed a rising parallel channel pattern. This pattern suggests that buyers are still in control of the price movement over the past two months.

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Currently, HYPE prices are testing the lower support level of the pattern after buying pressure weakened due to some traders taking profit at the all-time highs.

If the price is able to bounce off this support level with strong buying volume, then it is very likely that a new rally towards newer highs will occur.

The RSI indicator also supports the bullish prediction for HYPE prices. Although the price dropped to the lower support line, the momentum is still pointing in an upward direction as the RSI is at 53.

If the price is able to create a higher low and break the upper resistance line of the up channel at $46, then the price has the potential to rise up to 70% towards a new record high price of $68.

However, investors need to be cautious as the histogram of the AO indicator (Awesome Oscillator) shows that the strength of the uptrend is starting to weaken.

If there is no change in this condition when the price tests the lower support limit, then the bullish outlook could be invalidated and the price may drop to the 61.8% Fibonacci level at $32.

One factor that could drive a 70% rally towards $68 is increased institutional interest, especially after Nasdaq-listed company Eyenovia launched its Hyperliquid Treasury and invested $50 million to buy HYPE tokens.

Whale opens long position worth $8.3 million

Large wallets (whales) continue to make significant profits by going long on the HYPE token. Recently, one whale made a profit of $34 million through a 4x leveraged position on HYPE.

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The latest data from CoinGlass shows that these speculative traders are still aggressive even though the HYPE price has corrected from its peak.

In the last 24 hours, CoinGlass data notes that whales have opened $8.33 million worth of long positions on the DEX Hyperliquid platform, despite prices testing support levels.

Two of these whales risk liquidation if the price drops to $25 or $28. Currently, all three whales are still carrying unrealized losses due to high market volatility.

This situation suggests that large wallet holders are still optimistic about the continuation of HYPE’s price uptrend, with the potential to set new record highs in the near future.

In conclusion, HYPE prices appear to be on the verge of a 70% rally towards $68, as bullish momentum remains strong within the up channel pattern.

The action of the whales who opened long positions worth more than $11 million shows that they are preparing for this possible price spike.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Is Hype Price Poised for Another 70% Rally as Whales Open $12M Longs. Accessed on June 19, 2025

*Featured Image: Crypto Economy