Hyperliquid (HYPE) is currently trading at $31.22, with a slight decline of 1.62% over the past 24 hours. The asset has seen a daily range of 3.6%, with a high of $32.29 and a low of $28.69, indicating moderate volatility.

Trading volume stands at approximately $648 million, representing 8.71% of its market capitalization. This volume level suggests a healthy trading environment, as it reflects active market participation, although the recent price decline could deter some investors.

The hourly moving averages show that the 8 SMA is at $29.59, indicating a bullish sentiment with a 5.52% increase, while longer-term SMAs, such as the 144 SMA at $30.65, reflect a more conservative upward trend. The 1-hour RSI sits at 50, suggesting neutrality in momentum, while the 7-day RSI of 54 points to a mild bullish trend without entering overbought territory.

Over the past week, HYPE has increased by approximately 39.83%, with gains of 29.60% over the last 14 days and 26.56% over the last 30 days. These figures indicate a strong positive trend, though the recent daily decline suggests that some profit-taking may be occurring.

The all-time high for HYPE remains at $59.30, reached on September 18, 2025, providing a significant upside potential compared to the current price. However, the recent pullback might indicate that the asset could be experiencing some resistance as it approaches prior highs.

Given the overall data, HYPE is currently in a consolidation phase with potential for future gains, supported by the strong weekly and monthly performance metrics. However, the recent daily decline and proximity to resistance levels imply a cautious approach.

Rating: Hold. The current trend shows promise, but the recent dip and resistance suggest waiting for clearer bullish signals before increasing exposure.