Asset Manager Withdraws 15,000 HYPE: Will Trendline Breakout Trigger 50% Rally?

Source: CryptoNewsNet Original Title: Asset Manager Withdraws 15000 HYPE: Will Trendline Breakout Trigger 50% Rally? Original Link:

Key Highlights

• DACM boosted its HYPE holdings past $1 million.
• The asset manager withdrew 15,000 tokens from FalconX on December 4.
• Hyperliquid’s HIP-3 custom markets crossed $5 billion in total trading volume.

DACM’s Strategic HYPE Accumulation

On Dec. 4, DigiAssetFund (DACM) withdrew 15,000 HYPE tokens valued at roughly $525,000 from a major exchange. According to blockchain analytics, the transfer raised their total Hyperliquid holdings in that wallet to more than $1 million.

The same day, DACM’s Executive Chairman and CIO, Richard Galvin, announced a major investment into Ostium Labs’ Series A round. Galvin highlighted that the global CFD market moves more than $10 trillion each month, yet still relies on outdated, opaque systems that often trade against users. DACM backs Ostium for rebuilding this infrastructure via oracle-driven, RFQ-based perpetuals.

Hyperliquid’s Custom Markets Hit $5 Billion in Volume

Meanwhile, Hyperliquid’s HIP-3, which enables permissionless, user-deployed perpetual markets, saw over $5 billion in trading volume generated across these custom markets. Traders have begun exploring new synthetic assets tied to tech stocks and non-crypto indices.

The platform’s specialized layer-1 infrastructure allows high-speed derivatives execution without relying on centralized intermediaries. HIP-3 enables builders to launch equity-style perpetuals along with standard crypto derivatives.

HYPE Price Analysis: Testing a Major Trendline

The HYPE chart shows that the token is sitting just below a clear descending trendline that has capped every rally for months. Current price sits near $34.78 with Bollinger Bands at $40.38 (upper), $35.04 (mid), and $29.70 (lower).

HYPE has also bounced several times from a strong support block marked between the 29-31 range. This zone has held since early summer.

Interestingly, the RSI stands at 46.74 while the Balance of Power holds near 0.03, which indicates mild buyer presence.

Trendline capping HYPE rallies for months

Price Targets and Scenarios

A decisive breakout above the descending trendline, especially above the $40 region, would present the next target at $52, representing a possible 50% rally from current levels.

However, if HYPE rejects from the trendline once again, price could revisit the $29 support level. Losing this support area may lead to a deeper pullback toward $24.