Hyperliquid is kicking off October with strong momentum. HYPE price is up almost 9% today at $47.88, while trading volume has jumped nearly 50%, showing that fresh buyers are stepping in.
A mix of new on-chain developments and a friendlier market backdrop is helping drive the move and could set the stage for more action over the coming weeks.
What you'll learn 👉
What’s Happening With Hyperliquid
The biggest spark right now is the Hypurr NFT launch on September 29. Hyperliquid released 4,600 NFTs to early adopters, and the response was instant. The floor price shot to $68,900 with $45M+ in trading volume within hours, according to Crypto Times.
These NFTs are tied directly to Hyperliquid’s HyperEVM infrastructure, so they bring more than just collectible value. High-profile sales, like Hypurr #21 listed for $470K, helped fuel speculation and increased demand for HYPE.
Even a reported $400K NFT theft flagged by ZachXBT couldn’t cool the excitement. The launch shows that Hyperliquid can engage its community in a big way, and traders will now be watching to see if NFT trading stays strong and how it connects with the project’s DeFi products.
Hypurr NFTs have been deployed on the HyperEVM.
— Hyper Foundation (@HyperFND) September 28, 2025
Participants had the opportunity to opt in to receive a Hypurr NFT after the HyperEVM went live as part of the Genesis Event in November 2024. The HyperEVM launched in February 2025 as the general programmability interface to the…
The wider market is also on HYPE’s side. The Altcoin Season Index has risen to 67, a sign that capital is moving back into higher-risk crypto assets. HYPE fits that narrative with a 90-day return of +23.8%.
While competitor Aster is pulling in more daily fees ($25M compared to Hyperliquid’s $3.17M), HYPE still leads in spot market dominance with $477M in volume versus Aster’s $199M.
What the HYPE Chart Is Showing
The 4-hour HYPE chart highlights a sharp comeback after a deep pullback earlier in September. After topping out near $59.45, HYPE price slid steadily and bottomed just below $42 at the end of the month.
Since then, it has rebounded and is now trading back above $47, reclaiming short-term resistance and heading back into the range it held through much of August and early September.
The next key resistance sits near $50–$51, which was the ceiling during the last rally. If buyers can push through this area with strong volume, a retest of $55 and higher becomes more likely. On the downside, $44–$45 is now the support zone to watch if momentum cools.
Market Indicators
Momentum signals back up this improving trend. The RSI is hovering around 55–56 across multiple timeframes, a healthy level that shows bullish strength without flashing overbought. Trading volume is climbing alongside price, which adds weight to the breakout and signals that genuine demand is driving the move.
Open interest is steady around 5.7M, showing active futures positioning without excessive leverage.
Net long and net short positions remain balanced, meaning there’s no sign of the kind of crowded positioning that often triggers quick reversals.
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HYPE Price Short-Term Outlook for October
If HYPE can hold above $45 and break cleanly over $50, the next upside target sits around $55–$58, which hasn’t been tested since early September.
Failure to clear $50 on strong volume could lead to more sideways action, but the key support at $44 should keep the structure intact.
With the Hypurr NFT launch generating fresh excitement, trading activity on the rise, and altcoin sentiment turning risk-on, Hyperliquid heads into October with a clear bullish bias.
Unless the broader crypto market suddenly turns lower, HYPE price looks well positioned to extend its recovery and aim for higher highs as the month unfolds.
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