Hyperliquid HYPE resistance near $91 remains the key test. HYPE traded near $88.45 on October 1. It was down 2.74% on the daily chart.
Meanwhile, the Hyperliquid Policy Center pressed European regulators. It wants perpetual futures classified under existing derivatives rules.
Hyperliquid HYPE resistance caps price near $91
The token stayed below its recent $97.88 peak. On the 4-hour chart, nearby resistance sits around $90.95. TradingView’s KuCoin HYPE/USDT chart showed a session high of $91.105. The low was $88.119. Price stood near the lower end after retreating from late September.
HYPE recovered from roughly $85 on the 4-hour chart. That rebound carried it above $90. Then selling pushed it toward $88.46. The recovery remains below the $92–$95 trading area.
The 4-hour Bollinger Bands showed an upper boundary of $90.946. The midpoint was $87.894. The lower boundary was $84.843. The upper band closely matched the daily high. Therefore, first resistance sits around $90.95–$91.11.
A sustained move above that zone would refocus the $92–$95 area. Beyond it, the daily high of $97.876 remains the next major reference. The round-number $100 level follows.
At $88.45, HYPE needs roughly 10.7% to revisit $97.88. Consequently, the chart places an initial test near $91. Any attempt to recover the full decline would come later.
Daily momentum cools as $87.89 becomes first support test
The daily RSI stood at 52.58. That is above neutral 50 but below its moving average of 61.17. Earlier readings reached overbought during the advance. The latest reading shows weaker momentum after the pullback.
The daily Aroon panel showed Aroon Up at 42.86%. Aroon Down was 0%. The declining Up reading reflects distance from the recent high. The Down reading remained at zero.
On the 4-hour chart, HYPE traded about 0.6% above the Bollinger midpoint at $87.89. Holding that level would preserve the rebound. A move below it would bring the lower band near $84.84 into focus.
The daily Fibonacci overlay placed the next lower reference at $81.287. That is its 0.786 level. The area sits roughly 8.1% below $88.45. HYPE traded through it repeatedly during its August and September advance.
Below $81.29, the September trough around $76–$78 provides another reference. The daily overlay’s next Fibonacci level lies farther down at $68.264.
The 4-hour ADX read 25.55. It had fallen from late-September readings. ADX measures trend strength, not direction. Therefore, the latest reading does not establish an upward breakout. Price remains between the $87.89 midpoint and resistance around $91.
HPC seeks derivatives treatment for perpetual futures
The Hyperliquid Policy Center submitted its position during the European Commission’s MiCA review. The group argued that a financial instrument should retain MiFID II treatment. This should apply when issued or traded on a public blockchain.
HPC wants regulators to classify products by economic features. Its submission argued that perpetual futures share characteristics with covered derivatives. This applies despite having no fixed expiry date.
The group asked for confirmation through existing ESMA guidelines. It did not request a separate category for crypto-linked perpetual contracts. It also called for rules that preserve global liquidity access.
HPC’s argument distinguishes order-book perpetuals from contracts for difference. CFD providers can act as customers’ direct counterparties. ESMA’s current position requires firms to assess the actual product. In February, the regulator said derivatives marketed as perpetual futures likely fall within CFD measures. Those measures include leverage limits and margin close-out requirements. Negative balance protection also applies.
HPC also proposed using independently verifiable blockchain records. This would meet transparency obligations. Its recommendations covered trades, funding payments, orders, and liquidations. Disclosures would cover funding rates, margin requirements, reference prices, and position-closing rules.
Borrowing expansion accompanies plans for US markets
Hyperliquid launched manual borrowing on September 18. It lets users borrow USDC and USDT against supported collateral. The platform reported $269 million borrowed across the underlying infrastructure. That infrastructure also supports its portfolio margin system.
Permissioned HIP-3 markets add access controls. They use onchain allowlists managed by deployers or designated sub-deployers.
A US proposal uses that structure. Payward, Kraken’s parent company, announced its plan on September 16. It intends to deploy Hyperliquid perpetual markets for US clients. The plan is subject to regulatory approval. Market operation and clearing go to Bitnomial. NinjaTrader Clearing would carry client accounts. Trading would require inclusion on both firms’ allowlists.
Key levels to watch
For HYPE’s price, immediate thresholds remain close. Resistance sits at $90.95–$91.11. Support sits at $87.89. A break above resistance would reopen $95 and $97.88. A loss of the midpoint would shift attention toward $84.84 and $81.29.
