TL;DR HYPE’s price rejected near $50, with analysts now eyeing a potential retrace toward $39. Hyperliquid’s Assistance Fund has repurchased $29 million in HYPE, pushing buybacks above $540 million. TVL rebounds to $635 million, holders’ revenue stays strong above $2 million daily since June. Price Reversal After Resistance Test Hyperliquid (HYPE) slipped after failing to hold above $48–$50. The token turned lower, repeating a rejection seen earlier at the same level. Analyst Ali Martinez said the next area to watch is $39. HYPE was trading near $42 at press time. It is down 4% in 24 hours and 3% over the week. The asset has fallen through support around $44–$45. Charts show $39 as the next clear line, with heavier support at $36–$37. A move back above $46 would help the bulls, while a break over $50 would reset the trend. After a rejection at the top of the channel, Hyperliquid $HYPE targets $39! https://t.co/gen0qbWYYT pic.twitter.com/pYmqHFLtZp — Ali (@ali_charts) August 18, 2025 Different Views in Market Other voices remain more optimistic. Hydraze called HYPE “the most comfy ALT hold in crypto this year,” saying long-term holders should sit tight. At the same time, Hyperliquid News reported that the project’s Assistance Fund has repurchased more than $29 million in HYPE, taking total buybacks above $540 million. Last week, CryptoPotato reported the latest move higher was “led by spot buying,” with the fund absorbing supply. Buybacks of more than $5 million a day are expected to continue. On-Chain Activity Holds Firm Apart from the price, network data indicate rising usage. Hyperliquid recorded $635.94 million in total value locked on August 19, alongside $3.54 million in holders’ revenue. TVL has more than doubled since April, when it dropped under $300 million. Source: DefiLlama Holders’ revenue has also stayed firm. Since June, daily numbers often topped $2 million, with peaks near $7 million. That growth shows steady demand for the platform’s services despite token volatility. Charts now point lower, with $39 the level in focus. But continued buybacks and strong revenue may limit downside pressure. Traders are watching to see if HYPE stabilizes or extends its decline. The post HYPE Faces Sell-Off After Rejection, Will This Crucial Support Hold? appeared first on CryptoPotato .
