Hyperliquid Price Forecast: HYPE eyes $78.4 support as CFTC approves US equity perpetuals

• The CFTC approved individual stock perpetuals as security futures, placing them under joint SEC and CFTC oversight.
• Cboe, Citadel Securities and the Healthy Markets Association joined a lawsuit challenging the CFTC's approval of single-stock perpetuals.
• HYPE could find support at the 100-day EMA and $78.42 convergence.

Hyperliquid (HYPE) trades at $81.73 as US regulators open another route for perpetual futures, allowing contracts tied to individual stocks to trade on qualifying domestic exchanges.

CFTC opens door to US equity perpetual futures

The Commodity Futures Trading Commission (CFTC) stated Tuesday that perpetual futures on individual equity securities can begin trading on registered contract markets that are also recognized by the Securities and Exchange Commission (SEC).

CFTC Chairman Michael Selig said the contracts, known as equity perpetuals, have been deemed approved as security futures products under the existing regulatory framework. The structure places them under joint CFTC and SEC oversight.

“The Equity Perps demonstrate the strength of the ongoing commitments of the CFTC and SEC to support lawful innovation, uphold market integrity, and ensure investor and customer protection through the harmonization of the CFTC’s and SEC’s regulatory frameworks,” Chairman Selig shared.

Selig also described the move as an extension of the agency’s effort to bring perpetual derivatives onshore, following the earlier approval of Bitcoin perpetual futures on a CFTC-regulated exchange.

“I believe that bringing these types of innovative products into our regulated markets ensures that American investors and traders can access these products within the protections of the CFTC’s proven regulatory framework, rather than being forced to turn to offshore, and often unregulated, venues,” he said.

The approval follows months of industry calls for clearer rules governing perpetual markets, after the Senate’s CLARITY Act failed to advance in a September 15 procedural vote, leaving regulators to pursue parts of the market-structure agenda through agency action.

Cboe joins legal challenge to CFTC approval

The approval has already drawn a legal challenge. The Capital Markets Alliance filed a lawsuit in the US District Court for the Southern District of New York on Tuesday, seeking to overturn the CFTC’s approval of single-stock perpetual derivatives. Cboe Global Markets joined the action alongside Citadel Securities and the Healthy Markets Association.

The alliance argues that the contracts should be treated as security-based swaps, which fall under the SEC’s jurisdiction, and that the CFTC exceeded its authority and violated the Administrative Procedure Act.

Cboe stated that allowing securities-linked products outside the existing framework could weaken investor protections and create regulatory arbitrage.

Meanwhile, Hyperliquid has continued to explore ways to bring its perpetual markets into the US under a regulated environment. Last week, ICE and Trade[XYZ] announced an agreement to establish a dedicated US market and clearing structure built on Hyperliquid.

ICE will exclusively operate the regulated markets and plans to make a strategic investment in Trade[XYZ]. The planned venue would offer retail access to perpetual contracts tied to equities, commodities, currencies and crypto, subject to regulatory approvals.

Hyperliquid technical outlook: HYPE eyes $78.4 and 100-day EMA support

On the daily chart, HYPE trades at $81.73, maintaining a bearish near-term bias as it remains capped below the 50- and 20-day Exponential Moving Average (EMA) at $82.64 and $83.40, respectively. Price continues to trade above the 100-day EMA at $78.08, which offers underlying trend support, but the proximity of stacked resistance overhead suggests rallies are vulnerable. The Relative Strength Index (RSI) at 47.27 leans slightly soft, while the Stochastic near 34 hints at fading upside momentum after the recent rebound.

On the topside, initial resistance is located at the 50- and 20-day EMAs, with a stronger barrier at the horizontal level near $85.04. Above that, the downward-sloping trend-line break area around $87.68 is likely to cap advances before the higher horizontal level at $97.84. On the downside, immediate support emerges at the 100-day EMA and $78.42 convergence, ahead of the horizontal floor at $75.69. A deeper pullback would expose successive supports at $67.63 and $61.16.

(The technical analysis of this story was written with the help of an AI tool. Know more.)