Hyperliquid (HYPE) is currently trading at $29.59, reflecting a significant 24-hour decline of 11.39%. The price has fluctuated between a high of $33.43 and a low of $28.33 in the past 24 hours, indicating volatility with a daily range of 5.1%.

Trading volume stands at $770,120,384, representing a volume-to-market cap ratio of 10.91%, suggesting active trading interest. The short-term moving averages indicate mixed signals; the 8 SMA and 13 SMA show upward momentum, while the 21 SMA and 55 SMA indicate bearish trends.

The 1-hour RSI is at 40, which suggests the asset is nearing oversold conditions, while the 7-day RSI at 57 points to a neutral sentiment over a longer timeframe. Recent price changes reflect a strong upward trend over the last week (31.91%), 14 days (19.29%), and 30 days (14.14%), indicating potential bullish sentiment in the medium term.

Considering the all-time high of $59.30 reached in September 2025, HYPE remains significantly below this level, leaving room for recovery. However, the recent price drop and the bearish signals from longer-term moving averages require caution.

Given the current technical indicators and market sentiment, the recommendation for Hyperliquid (HYPE) is to Hold. While short-term volatility and bearish signals warrant close monitoring, the strong recent price performance and potential for recovery suggest that investors should not exit positions just yet.