Hyperliquid price eyes $40 mid-range breakout amid Phantom, SafePal wallet integrations

Hyperliquid price is pressing against the $40 mid-range level as new wallet integrations start to reshape user demand and trading flows.

Hyperliquid was trading near $39 at press time, up about 2% in the past 24 hours as the market circled the key mid-range level at $40. The token has moved between $36.50 and $41.18 over the last week and remains about 10% higher on the month, even though it is still down roughly 33% from its Sept. 18 all-time high.

Trading activity has softened. Spot volume over the last 24 hours slipped nearly 20% to $425 million, while derivatives volume fell 23% to $1.47 billion.

Open interest, however, edged higher by 3.6% to $1.74 billion, showing that fewer traders are participating but those who remain are carrying more conviction. This often points to a market waiting for a break in either direction.

Wallet integrations add new momentum

The latest price move comes after two major wallet platforms, Phantom and SafePal, launched native support for Hyperliquid (HYPE) and HyperEVM assets on Nov. 19.

Phantom, with more than 15 million users, now allows swaps between HyperEVM tokens and cross-chain swaps from Solana, Ethereum, Base, and Sui into HYPE. The integration enables sending and receiving HyperEVM assets directly in-wallet, which broadens access for new retail flow.

SafePal followed on the same day with a full Hyperliquid integration across its software and hardware wallets. Users can open long or short positions with up to 40x leverage and manage HyperEVM assets natively.

The platform will explore deeper partnerships, including a potential Walletdrop campaign. SafePal’s line of products reaches over 25 million users, giving Hyperliquid exposure to a large global base.

These integrations land while the network pushes forward key updates such as HIP-3, which lowers trading fees, supports permissionless market deployments, and introduces USDH-based markets. HIP-3 is expected to lift staking demand due to the 500,000 HYPE requirement for deploying custom perpetual markets. 

Hyperliquid price technical analysis

Price action on the daily chart shows a market pressing against the $40 mid-range level after forming a double bottom near the low-$30s. Over the past weeks, candles have tightened between lower highs and higher lows, forming a compression pattern that is often a sign that a stronger move is approaching.

Most momentum indicators sit in neutral territory. The relative strength index at 47, the commodity channel index, and the average directional index all suggest that the trend is still in early development. The momentum and MACD readings lean slightly positive, hinting that buyers are trying to press the market out of its coil.

Moving averages show a split landscape. The 20-day through 100-day averages slope downward, indicating that the overall structure is still bearish, while the shorter 10-day averages are trending upward. The 200-day EMA near $38 offers support, giving the market a reasonable base to build from.

A push above $40 would open room toward the upper range at $44–$50, an area that has capped breakouts several times. Failure to hold $38–$39 raises the risk of a return to $36 and, if the market unwinds further, the low-$30s zone that formed the previous bottom.