Hyperliquid ($HYPE) Surges 20% as HIP-4 Prediction Markets Fuel Momentum

• Hyperliquid ($HYPE) surged after HIP-4 news expanded its trading scope to include prediction markets.

• Price reclaimed daily EMA supports for the first time since October, signaling short-term technical recovery.

• Traders focus on $35 resistance and $31.5–$28.5 support for the next directional move.

Hyperliquid ($HYPE) recorded a strong daily advance following confirmation that prediction markets trading will be supported under HIP-4. The development renewed interest in the protocol’s growth strategy and shifted short-term market expectations.

HIP-4 Announcement Reshapes Market Sentiment

Hyperliquid ($HYPE) surged more than 20.6% in 24 hours to trade near $37.05 after the HIP-4 update was confirmed. The protocol will support prediction market trading, expanding beyond its core perpetuals framework.

Price moved decisively from a consolidation range between $30 and $32 before approaching resistance near the $38 zone. The rally reflected sustained buying pressure rather than short-lived speculative spikes.

Several traders referenced the move through short posts on X, linking the price reaction to the protocol’s evolving utility. The token also gained 15.6% against Bitcoin, showing relative strength compared with the broader market.

Technical Recovery Emerges After Market Turbulence

Hyperliquid ($HYPE) maintained structure during two weeks of elevated market volatility. While many altcoins declined sharply, HYPE defended demand zones and produced a steadier rebound pattern.

The most notable technical change was the reclaim of all major daily EMA supports for the first time since October. This development often signals reduced downside momentum and early-stage recovery behavior.

$HYPE / Hyperliquid

Holding extremely well through the last 2 weeks of market turbulence.

If price can recapture $35 and hold convincingly, that would trigger some long setups with $38–$42 as the likely target zone. Until that level is reclaimed, the intermediate trend is still… pic.twitter.com/U5w4juEdQA

— Ardi (@ArdiNSC) February 3, 2026

Despite these signals, the broader intermediate trend remains cautious until resistance is cleared. Market commentary on social platforms continues to frame the move as stabilization rather than a confirmed trend reversal.

Key Levels Guide the Next Trading Phase

The $35 level now represents the main trigger zone for directional confirmation. A sustained hold above this price would open the path toward the $38–$42 resistance area, where prior liquidity was concentrated.

INSIGHT: $HYPE is up 20.6% today following news it will support prediction markets trading under HIP-4. pic.twitter.com/AULrCpAcEq

— CoinGecko (@coingecko) February 3, 2026

On the downside, $31.5 and $28.5 remain the most important support levels to monitor. These zones previously absorbed selling pressure and continue to separate consolidation from renewed weakness.

Traders have circulated these levels through brief updates on X, emphasizing risk management rather than aggressive positioning. The market is now waiting for a clear signal to define the next phase.