HYPE sees resistance at $30
Key receivers
HYPE rose less than 1 percent and traded at $27 a penny.
The coin could regain the psychological level of $30 during the plan to burn the relief funds.
Hyperliquid seems to be burning the funds
HYPE, the native coin of Hypeliquid DEX, is up less than 1 percent in the last 24 hours, making it one of the top 20 best performing cryptocurrencies by market cap.
Positive performance comes when Bitcoin, XRP and Ether are all trading in the red. It comes as the HyperLiquid Foundation announced plans to permanently dispose of 37.11 million HYPE tokens, representing 3.71% of its total supply.
The HYPER Foundation Grant Fund is issuing an affirmative vote to fire HYPE and permanently remove the tokens from circulation and general supply.
For context, Relief Fund converts transaction fees to HYPE fully automatically as part of…
— Hyper Foundation (@HyperFND) December 17, 2025
The tokens are stored in the support fund address, and the trading fees collected by the fixed-oriented exchange are automatically converted to purchase generation tokens.
According to the team, the lack of a private key meant that the address of the grant fund was never controlled, and a hard fork was necessary to access the funds. While voting is currently underway, if the community approves the proposal, it creates a social consensus that no protocol updates should reach this address.
However, the initial data shows that traders are bullish on this cryptocurrency. CoinGlass data shows that open interest (OI) rose by 1.63% to $1.53 billion in the last 24 hours, reflecting the notional value of active positions.
A rise in the HYPE OI-weighted funding rate to 0.0839% indicates increased buying pressure, adding further confusion to bulls.
HYPE may soon recapture $30.
HYPE/USD's 4-hour chart is weak and bullish after losing 4% in value over the past seven days. At press time, HYPE is trading above the $26 support level.
The news that it could burn has not been priced in, and this could push the price of HYPE over the next few days.
However, if the intraday candle fails to close above the $26 support, HYPE could extend the decline to the October 10 low near $20.
An RSI of 40 is below the neutral 50 but indicates fading bearish momentum. The Moving Average Convergence Divergence (MACD) and the signal line extend the downtrend, indicating that the bears have not given up yet.
On the downside, if the bulls continue to rally and the HYPE daily candle closes above $26, the coin could rally to the $34 resistance level.
