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Hyperliquid price trades near $28 as traders watch a potential $30 breakout driven by the HIP-6 token launch proposal.
- Hyperliquid price is consolidating between $26.3 and $30 after a multi-week pullback.
- HIP-6 could increase on-chain token launches and expand fee-driven buybacks.
- A confirmed move above $30 may shift short-term momentum in favor of buyers.
Hyperliquid ($HYPE) is trading at $28.04 at press time, down 0.8% over the past 24 hours. The token has fallen 5% in the last week and is lower by 17% over the past 30 days, keeping it well below its recent highs.
Price is hovering near the upper end of its weekly range between $25.86 and $30.52, showing signs of stabilization after a broader pullback.
In the last 24 hours, trading volume reached $268.9 million, a sharp 25% decline from the previous day. That drop in activity suggests some traders have stepped to the sidelines as $HYPE approaches a key resistance zone near $30.
CoinGlass data shows leverage cooling rather than building. Open interest has fallen 4.63% to $1.10 billion, and derivatives volume is down 5.72%. When open interest declines, it typically means positions are being closed instead of added.
HIP-6 proposal could strengthen fee-driven buybacks
Attention has shifted to HIP-6, a new Hyperliquid Improvement Proposal introduced on Feb. 25. The proposal would allow fully on-chain, permissionless token launches directly on HyperCore, the network’s layer-1 infrastructure.
🔥HIP-6 Proposal on Hyperliquid
— Hyperliquid Daily (@HYPERDailyTK) February 27, 2026
TL;DR:
HIP-6 is a community proposal for permissionless token launches on Hyperliquid via Continuous Clearing Auctions (CCA), allowing projects to raise USDH funds, discover fair prices over ~1 week, and auto-seed 20-100% proceeds into HIP-2… https://t.co/ATMC6mlpf6
Today, projects launching tokens on Hyperliquid must raise funds off-chain and manually seed liquidity. HIP-6 aims to streamline that process through a Continuous Clearing Auction system.
Tokens would be sold gradually at a uniform clearing price, with funds held in protocol custody until settlement. A portion of the proceeds would automatically seed liquidity, while 5% would flow to the Assistance Fund.
That detail matters for $HYPE holders. Hyperliquid directs the vast majority of protocol fees into the Assistance Fund, which is used for token buybacks. If HIP-6 leads to more token launches, it could drive higher platform activity, increasing fee generation and buybacks.
Hyperliquid price technical analysis
On the chart, $HYPE has moved out of a short-term downtrend and into a consolidation range between $26.3 and $30. The price is maintaining the structure by remaining above $26.3, which is the lower limit of that range. A narrowing of the Bollinger Bands indicates less volatility.
When the price breaks out, periods of compression frequently result in sharper moves. $HYPE is currently trading just below the mid-Bollinger Band, which aligns with the 20-day moving average near $29.6. That level is the first barrier bulls need to reclaim.
The relative strength index sits around 46–47, slightly below neutral. A move above 50 would signal that buyers are regaining control. Until then, momentum remains balanced but fragile.
A daily close above $29.6 would improve short-term momentum. A sustained move above $30 would strengthen the breakout case and expose the next resistance zone around $32.8. Clearing that area would mark a higher high on the daily timeframe and shift the broader structure more clearly upward.
coindesk.com
