Hyperliquid price nears $46 resistance in a four-month ascending channel from December 2025 lows

Hyperliquid (HYPE) is trading at $43.60 on April 13, up 2.76% over the 4H session. The move comes as price advances from December 2025 lows near $22 toward the upper boundary of an ascending channel, currently testing the $46.22 session high.

Cause: Ascending channel advance meets key resistance

On the 4H chart, Hyperliquid has traced an ascending channel over roughly four months, with two parallel upward-sloping trendlines connecting the December 2025 base near $22 to the channel’s upper boundary near $46.22. Each retest of the lower trendline has been followed by recovery, and price has printed successive higher lows that have remained above the moving-average ribbon throughout the advance.

The moving-average structure remains bullishly arranged: SMA 20 at $41.73, SMA 50 at $39.52, SMA 100 at $38.57, and SMA 200 at $38.24 are all below the current price.

Development: Momentum slows near the upper boundary

While the channel remains intact, momentum is thinning at resistance. The 4H MACD (12,26,9) shows the MACD line at 0.72 barely above the signal at 0.69, leaving a histogram reading of 0.03. The article notes this is a sharp deceleration from the momentum that drove the channel advance through March and early April.

It also highlights that a histogram this close to zero at a known resistance level can precede either consolidation before a breakout or a rejection back toward mid-channel support.

A bullish flag breakout was confirmed on April 8 at $39.50, with a target of $44. That target has been achieved, placing price at the next structural test near $46.22.

Data and market context

Arthur Hayes said publicly that he projects Hyperliquid could reach $150 by August 2026, citing real revenue generation and the platform’s ability to take market share from centralized exchanges. Hyperliquid is also described as holding approximately 40% of total decentralized perpetual trading volume globally.

On derivatives activity, Hyperliquid open interest is approximately $1.53 billion, according to Coinglass data. Futures volume over the past 24 hours is about $715 million, consistent with elevated activity since HIP-3 expanded offerings to include gold, silver, and crude oil perpetuals.

Tokenized assets are reported to represent 33% of total weekly trading volume on Hyperliquid, described as a record share per Blockworks data. The protocol’s Assistance Fund is also cited as directing up to 97% of trading fees into HYPE buybacks.

Key levels: support, resistance, and invalidation

Resistance: $46.22, the 4H session high and upper channel trendline. A confirmed 4H close above $46.22 would confirm a channel breakout and open $50 as the first major target. An extended move above $50 would bring the September 2025 all-time high at $59.30 into focus.

Support: SMA 20 at $41.73 is the first dynamic support. A 4H close below it would bring SMA 50 at $39.52 into focus, followed by SMA 100 at $38.57 and SMA 200 at $38.24. Together, these averages form a dense support cluster between $38 and $39, which also aligns with the lower boundary of the ascending channel.

Invalidation: A daily close below $38.24 would confirm a channel breakdown and shift the near-term bias bearish.

Impact and near-term scenarios

The article points to a high-stakes structural factor near support: High Stakes Capital fully exited a 602,421 HYPE position worth $22.9 million near $38. With that exit now sitting at the SMA cluster and lower channel boundary, the $38 to $39 zone is described as a key floor beneath the ascending channel.

It concludes that if Hyperliquid secures a 4H close above $46.22, $50 is the immediate target. Conversely, rejection at the upper channel alongside continued MACD compression would suggest a pullback toward SMA 20 at $41.73, with the $38 to $39 cluster needing to hold to preserve the channel structure.