Market Overview and Support Levels
HYPE price action opens the current market narrative, as the token continues to defend a major support zone that has repeatedly attracted buyers in recent months.
Support Zone Stability and Buyer Response
HYPE price action remains centered on a critical support area where selling pressure has repeatedly failed to break lower levels. Market activity shows long downside wicks on recent daily candles, indicating consistent buyer interest. This behavior has formed a pattern seen across earlier attempts by sellers to push the market below this zone.
According to a post from CryptoPulse, bears were unable to extend the decline, leaving the token positioned for a possible double-bottom structure. This zone has been a recurring region where buyers have stepped in with strength. Traders observing this area continue to treat it as a high-probability point for renewed interest.
Market participants now focus on whether the token can maintain its position long enough for a clear reversal pattern to complete. The repeated defense of this level reinforces its importance as a base for potential upward movement.
Technical Analysis and Future Projections
Potential Double-Bottom Structure Near Confirmation
The emerging double-bottom pattern forms the center of current expectations surrounding HYPE price action. The first low formed in early November, and the market is now shaping a second low at nearly the same level. This alignment often draws attention from traders seeking pattern-based confirmation.
CryptoPulse noted that the recent structure strengthens the case for a possible reversal if the token can move above the nearby resistance cluster. The 35–36 range remains the immediate level that buyers are watching. Breaking above this zone may offer a clearer shift toward renewed bullish strength.
If the pattern completes, market watchers believe a measured move toward the $40 region becomes more attainable. The next supply area around $48 matches previous swing activity, offering a target for traders studying historical movement.
Corporate Developments and Market Impact
PURR Launch on Nasdaq Introduces Regulated HYPE Exposure
Related market activity expanded when Sonnet BioTherapeutics merged with Hyperliquid Strategies to form PURR, now listed on Nasdaq. The combined entity began trading on December 3, introducing a regulated structure connected to HYPE through digital asset treasury holdings. Investors gain exposure through a model designed to access token-related markets.
The new entity retains Sonnet BioTherapeutics as a subsidiary. Backing from groups including Paradigm Operations LP and Atlas Merchant Sponsors II LP supports the venture. The treasury begins with $265 million designated for purchases and staking, with the possibility of expanding toward $1 billion.
During early December 3 trading, HYPE remained near $35 and moved more than 12% within 24 hours. This development occurred alongside growing interest in the token’s market structure and broader attention surrounding the newly launched PURR listing.