Hyperliquid (HYPE) is currently priced at $29.74, reflecting a 7.38% increase over the past 24 hours. The daily range of 2.06% indicates a relatively stable trading environment, with the price oscillating between a high of $29.76 and a low of $27.70 during this period.

The trading volume stands at approximately 292.79 million, representing 3.63% of the market cap, suggesting robust market interest. Moving averages show short-term bullish momentum with the 8 SMA at $29.03 and the 13 SMA at $29.05 both trending positively, while the 144 SMA indicates some resistance at $30.27.

The 1-hour RSI is at 64, indicating that the asset is nearing overbought territory, which could suggest a short-term price correction may be imminent. In contrast, the 7-day RSI is at 45, suggesting a lack of momentum in the longer term, compounded by a significant price decline of over 28% in the last 30 days.

Despite the positive daily change, the longer-term trend remains concerning, with the 7-day and 14-day price changes showing declines of 14.18% and 16.44%, respectively. The historical all-time high of $59.30, reached on September 18, 2025, sets a psychological resistance level that HYPE must overcome for sustained bullish sentiment.

Overall, while there is a short-term bullish signal indicated by the daily price increase and short-term moving averages, the longer-term metrics present a bearish outlook. Given the mixed indicators and potential for a pullback, a Hold rating is recommended to reassess market conditions before committing to a buy.