In this video: We analyse HYPE on 31 October 2026 using Elliott Wave, with the micro support at $87.10 to $92.21 as the level that decides between one more high and a deeper drop. Video by More Crypto Online.
HYPE pushed higher on the news but has not broken above the September high yet. Both scenarios still point to higher prices, with $130 as the next target and projections of $144, $168 or even $184, as long as the October low holds. On the smaller time frame there are only three waves up from the October low, so one more high toward $100 would be ideal. News-driven moves in crypto often stay three waves, so confidence is limited.
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The massive driving force behind HYPE’s explosive rally this week was an announcement by the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE). ICE revealed a definitive agreement with Trade[XYZ] to build a fully regulated, 24/7 onshore U.S. perpetual futures market utilizing Hyperliquid’s L1 infrastructure.
• The Hype: The news gained massive validation from traditional finance, drawing direct endorsements from billionaire investor Stanley Druckenmiller and public interactions from Elon Musk.
• The Pullback: The minor drop today coincides with reports that ICE deleted its initial announcement tweet. While the fundamental infrastructure integration plans remain unchanged, the social media deletion caused short-term speculative jittering.
HYPE's slight retreat today is largely an effect of broader systemic strain across the crypto market. A catastrophic $6.3+ billion exploit of Binance occurring between October 29–30 triggered over $1.5 billion in industry-wide leverage liquidations, dragging Bitcoin down past a 6-week low below $78,000. While HYPE initially decoupled from the market downturn on positive ecosystem news, it has succumbed slightly to the macro risk-off sentiment.
Probability over emotion, being the casino instead of the gambler, and why following the charts beat chasing fear and greed.
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