Key Takeaways

What’s the current outlook for HYPE price?

Hyperliquid price was stabilizing around the $30 to $35 zone, a key zone that had led to new peaks previously.

Will buybacks trigger a reversal?

The buyback could instill confidence in traders, resulting in more acquisitions, thus triggering a reversal.

The current price action of Hyperliquid [HYPE] was up by only a percent in the past 24 hours, despite the recent flash crashes. The drastic drops have happened on the last two Fridays of this month.

Despite this drop, prices appeared to be settling around key levels, which insinuated that the correction could be coming to an end. Additionally, Hyperliquid’s treasury was active with its buyback program.

Hyperliquid buyback reached $522M

According to Tokenomist data, the HYPE buyback mechanism has accumulated over $522 million worth of tokens since launch, accounting for more than 5.6% of the circulating supply.

The latest purchase added 4,000 HYPE for $140,000, continuing the steady accumulation trend seen from March through October.

Additional insights show that 15.26 million HYPE were acquired using protocol fees. Price charts indicate that HYPE’s value generally rose alongside these buybacks, except for a slowdown since mid-September.

The treasury was utilizing the ongoing correction in the broader market to acquire more HYPE tokens. Will HYPE now reverse from this accumulation?

Will HYPE reverse from THIS key level?

The charts showed that HYPE had broken below a key trendline support and was making lower highs and lows. This was an indication of a bearish price structure.

The On Balance Volume (OBV) at negative 3.62 billion and Chaikin Money Flow (CMF) at -0.10, as of writing, further indicated the bearishness of the structure.

However, it was a pleasing observation to see the price stabilizing around the $30 to $35 zone. The

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Author: Lennox Gitonga