Hyperliquid (HYPE) Hits Record High Above $92, Analyst Sets $100.50 Target

Hyperliquid (HYPE) surged to a new all-time high on Friday, September 18, reaching an intraday peak of $92.56. The move, which broke the previous record of $89.69, positioned the decentralized derivatives token among the top 10 cryptocurrencies by market capitalization, according to data from Woofun AI.

Technical Breakout Signals Further Upside

The token's advance has pushed it into a 'price discovery' phase, where no historical selling pressure exists. Aksel Kibar, an analyst at Tech Charts, noted a "breakout-retrace-continuation" pattern on the HYPE/USDT daily chart following its move above the $89 level.

Based on this technical formation, Kibar has set a mid-term price target of $100.50. The former resistance level of $76.60 is now considered a key support zone for potential buyer interest.

Strong On-Chain Metrics and Valuation

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Fundamental activity underpins the price momentum. Data compiled by Woofun AI shows that the HYPE/USDC perpetual contract on the decentralized network handled $141 million in trading volume over a 24-hour period. This highlights its growing competition with centralized exchange platforms.

With a fixed total supply of 1 billion tokens, Hyperliquid's fully diluted valuation (FDV) has now surpassed $87 billion. The source notes that sustained accumulation by institutional investors through corporate treasury management solutions is a key driver of demand.

Key Levels to Watch

Looking ahead, traders are monitoring whether HYPE can secure a weekly close above the crucial $90 level to solidify its gains. Capital flows surrounding the futures contract settlement at the end of the month will also be a critical factor. If the current support levels hold, the path toward the triple-digit target remains open, while a failure to do so could expose the token to a potential price correction.