cryptonewsz.com
$HYPE, the native cryptocurrency of the decentralized exchange (DEX), Hyperliquid, is up roughly 4% ahead of Friday’s U.S. market hours. As the geopolitical instability persists, a majority of major cryptocurrency struggle to drive sustainable recovery, but the Hyperliquid price benefits from the oil trading frenzy. The protocol’s active buyback-and-burn mechanism and renewed accumulation from whales is further strengthening the recovery momentum of Hype.
Hype Price Gains on Oil Volatility and Whale Buying
The cryptocurrency market witnessed a notable slowdown in recovery momentum near the weekend as geopolitical instability renewed market uncertainty. While the recent ceasefire agreement between the U.S, Iran, and Israel initially triggered a market wide relief rally, a fundamental disagreement between these parties still exists.
The rapid fraying of the ceasefire agreement has triggered notable volatility in oil price as the global benchmark WTI Crude trades at $99.93 per barrel. As oil prices rise and traders flock to platforms like Hyperliquid to hedge against geopolitical risk via oil perpetuals.
As the protocol used 97% of trading fees for $HYPE buybacks, these high-volume trades tied to oil futures contracts has directly translated into structural buying pressure for the token.
HyperliquidX Assistance Fund went through another round of buybacks yesterday. Records indicate an outlay of 1.67 million dollars for the acquisition of 42,446 $HYPE tokens in that timeframe. This was averagely priced at $39.38 dollars. The chart below shows the current USD value of the day in a sequence of daily values starting April 4 with the price metric increasing during the period.
In addition, Large investors continued accumulating $HYPE tokens on Hyperliquid this week. On-chain records of Lookonchain indicate a new wallet, 0x 96eb, deposited 5 million $USDC into the platform and has already bought 59,239 $HYPE at an approximate value of $2.39 million US.
The other whale address, 0xf562, deposited $7.86 million $USDC and purchased 200,042 $HYPE at an average price of $39.3. On their part, trader Cooker.hl purchased 50,751 $HYPE at a price of about $1.99 million or 38.5 per token.
The official buyback and intense whale buying combine to demonstrate a high buying pressure in Hyperliquid price.
Hyperliquid Price Poised to Enter Recovery Within Channel Pattern
Over the past week, the Hyperliquid price has surged from $24.46 to the current trading value of $41.19, registering a 19.53% increase. This recovery, backed by a notable surge in trading volume and momentum indicator RSI at 64%, indicates a strong bullish momentum in the price.
With sustained buying, the Hyperliquid price is poised for another 20% jump and challenges the overhead resistance trendline of a rising channel pattern at around $50 psychological level.
Since late January 2026, the coin has been actively resonating between the parallel trendlines as they offer dynamic resistance and support for the price. The potential retest to the overhead resistance would mark a pivot moment for Hyperliquid price as a potential breakout from this resistance would further accelerate the momentum in the asset for a prolonged recovery towards $60.
On the contrary, if the market participants witness renewed selling pressure at this resistance, the Hype price would enter another short pullback within the channel formation.