Hyperliquid (HYPE) is currently trading at $33.25, reflecting a 6.25% increase over the past 24 hours. The price has shown volatility, with a 24-hour high of $33.84 and a low of $29.73, indicating a daily range of 4.11% and strong trading interest with a volume of approximately $898 million.

Technical indicators reveal a bullish trend in the short term, as the 8 SMA is at $32.83 (+1.29%), and the 13 SMA is at $32.28 (+3.00%). The upward movement in the longer SMAs suggests sustained momentum, with the 55 SMA at $30.92 (+7.54%) and the 144 SMA at $31.36 (+6.03%).

The 1-hour RSI stands at 71, indicating that HYPE is currently overbought in the short term. However, the 7-day RSI at 49 suggests that the asset is more neutral over a longer timeframe, providing a balance that could support further upside or consolidation.

Fundamentally, HYPE has seen a significant 30-day price increase of 31.15%, showcasing strong demand and market interest. The current volume represents 11.31% of its market cap, suggesting healthy liquidity and potential for continued trading activity.

Given the current price proximity to the recent highs and the overbought condition indicated by the hourly RSI, caution is warranted in the short term. Therefore, the recommendation is to Hold, as further gains may be limited by the overbought signal, while the longer-term trend remains positive based on the sustained price increases over the past month.