Hyperliquid (HYPE) is currently trading at $32.48, reflecting a 24-hour decline of 2.07%. The daily price range has been relatively tight, with a high of $34.62 and a low of $32.49, indicating limited volatility in the short term.

The volume over the last 24 hours stands at approximately $768 million, contributing to a volume-to-market cap ratio of 9.84%, which suggests that trading activity is robust relative to its market capitalization. The hourly moving averages reveal a bearish trend, with the 8 SMA at $33.10 and the 13 SMA at $33.44, both indicating declines, while longer-term SMAs like the 55 SMA and 144 SMA show significant gains of 9.82% and 29.03%, respectively.

The 1-hour Relative Strength Index (RSI) is currently at 34, suggesting that HYPE may be oversold in the short term. Conversely, the 7-day RSI at 64 indicates that the asset is nearing overbought territory, which could lead to increased profit-taking in the near future.

In terms of price momentum, HYPE has shown impressive growth with a 7-day price change of approximately 48.48%, a 14-day change of 27.69%, and a 30-day change of 26.94%. However, the current price is significantly below its all-time high of $59.30 reached on September 18, 2025, indicating potential room for recovery but also the risk of further correction.

Considering the current price action, technical indicators, and the RSI readings, the recommendation for Hyperliquid (HYPE) is to Hold. While recent performance shows strong gains, the bearish short-term signals and potential for profit-taking suggest caution before entering a new position.