Hyperliquid and Uniswap Both Gain 3% Today, but Only One Has the Trend Behind It

Three Things to Know

• The owner of the New York Stock Exchange reportedly plans a US venue for Hyperliquid-based perpetual futures.
• HYPE trades above both key moving averages with buyers in control, while UNI's bounce runs against a falling trend.
• HYPE's resistance just under its record high is the level traders are watching.

Intercontinental Exchange is reportedly building a regulated US market for perpetual futures that settle on Hyperliquid. The project still needs approval from regulators.

The news gives HYPE a Wall Street link that few crypto tokens can claim. Its chart already leaned bullish. Uniswap matched the daily gain with a product launch of its own, but sellers still control its trend. Traders now want to know whether either move can hold.

NYSE Owner Eyes a US Venue for Hyperliquid Perps

ICE plans a US market for perpetual futures built on Hyperliquid, according to people familiar with the project. Perpetual futures are contracts with no expiry date. The venue would run around the clock, seven days a week. ICE is developing it with Trade[XYZ], and billionaire investor Stan Druckenmiller backs the venture.

The plan still needs regulatory approval, and no launch date has been set. It follows a push by Hyperliquid, which has lobbied US regulators since August to let regulated firms offer perps on its chain.

HYPE jumped about 18.3% in the 24 hours after the report. That move carried it toward its record of $98, set on Sept 23. Its market value stands near $22.7 billion, the 11th largest in crypto.

Big holders were split. On-chain tracker Lookonchain counted $52.7 million in whale longs over five days, offset by $53.3 million in whale selling.

Uniswap Labs had its own news. It released TJAR, permissionless infrastructure for converting fees onchain.

Buyers Keep HYPE Pressed Against Its Record

Hyperliquid (HYPE) daily price with the nearest support (green) and resistance (red). Source: TradingView

HYPE traded near $91.75 on Thursday, up about 3% on the day. The token has gained roughly 18% over the past week. Its monthly advance sits near 7%. Most of this month's gains came in the last few sessions.

The trend picture is clean. Price sits well above the 50-day moving average, near $82, which tracks the average close over roughly ten weeks. It also holds far above the 200-day average, around $68. Both lines slope beneath the price and act as floors. Trend-strength readings show a firm trend led by buyers.

RSI, a 0 to 100 gauge of momentum, stands at 66. That reading is strong but still short of the overheated zone above 70. The MACD indicator also sits above its signal line, so momentum keeps improving. The token has room to climb before it looks stretched.

On the daily chart, the first floor sits near $87.40. A slip below it would point to the next support around $82.50, almost on top of the 50-day line. Holding that zone would keep the uptrend intact.

Overhead, resistance near $97.70 sits just under the all-time high. That level caps the current move. A clean break would open the way toward $101, which would put HYPE in record territory.

Whale flows add a caution. Large buyers and sellers roughly cancelled each other out, so the biggest wallets are not driving the price higher on their own. A breakout through the record zone will need fresh demand from new traders.

Why UNI's Bounce Still Looks Like Selling Pressure

Uniswap (UNI) daily price with the nearest support (green) and resistance (red). Source: TradingView

UNI rose by the same margin on the day, trading near $6.68. The wider picture looks very different. The token is down about 5% over the week and roughly 25% over the past month.

Price remains below the 50-day average, near $7.20. That line now works as a ceiling, and Thursday's gain did not reach it. Only the 200-day average, around $5.60, still sits beneath the price. It keeps the long-term view from turning bearish.

Momentum points the other way from HYPE. UNI's RSI reads 41, on the weak side of neutral. Sellers still hold the edge. The MACD remains below its signal line, so the downward push has not faded. Trend-strength readings confirm a firm downtrend.

On the daily chart, resistance near $7.50 is the level that would change the tone. A close above it would clear the 50-day line too. The next hurdle after that sits around $8.45.

Support lies near $5.90, just above the 200-day average. A break there would expose the next floor around $4.64, a much deeper drop.

The TJAR release has not shown up in the price yet. Traders appear to be treating the day's rise as a bounce inside the slide.

The Levels That Decide the Next Three Days

Both charts now hinge on a handful of nearby levels.

• Bullish: A daily close for HYPE above resistance just under its record would set up a test of all-time highs. A drop back through the first floor would cancel that view. For UNI, reclaiming the resistance level above the 50-day line would confirm a turn. A break of support near the 200-day average would invalidate it.
• Bearish: If HYPE loses its first floor, price could slide toward the 50-day zone. A push back over the record-zone resistance would undo that. If UNI is rejected below resistance, it risks a return to support and then the deeper floor.

A Catalyst Rally Versus a Relief Bounce

The two tokens posted matching gains, yet only HYPE has a trend backing the move. Its chart and the ICE headline point in the same direction. UNI remains a relief bounce until buyers reclaim its 50-day line.

Regulators pose the main risk. The ICE venue still lacks approval, and any delay could quickly strip the headline premium from HYPE.