HYPE price eyes $57.30 as Q2 buybacks fuel rebound

HYPE price climbed above $56.80 as strong quarterly revenue, token buybacks, and rising RWA trading activity helped it rebound from the $51 support area. Summary HYPE price gained 2.5% in 24 hours and traded about 3.7% higher over the past week. Hyperliquid generated $169 million in Q2 revenue, allocating $141 million to HYPE buybacks. The daily chart shows a potential breakout from a descending channel, but momentum is nearing overbought levels. Liquidation clusters at $57.20 and $55 could determine HYPE’s next short-term move. HYPE price rebounds from $51 support According to data from crypto.news, Hyperliquid (HYPE) price traded near $56.80 on Aug. 7, gaining about 2.5% over 24 hours after recovering from an early-August low around $51.20. The token reached an intraday high near $57.04 before buyers and sellers began competing around the $57 level. The rebound has lifted HYPE roughly 11% from its weekly low, although its net seven-day gain remained closer to 3.7%. Trading volume stood near $250 million over the previous 24 hours. The 4-hour chart shows HYPE establishing a sequence of higher lows after defending the $51–$52 region. Price has also moved above the Supertrend indica...