Hyperliquid (HYPE) is currently trading at $33.49, reflecting a significant 24-hour decline of 11.14%. The price has fluctuated between $32.46 and $37.94 in the past day, indicating heightened volatility with a daily range of 5.48%.

The trading volume is robust at over $1 billion, which represents a 13.05% ratio to market cap, suggesting active market participation. The short-term moving averages indicate a mixed trend; while the 8 SMA shows a slight upward movement of 0.27%, the 13 SMA is declining by 2.03%, indicating potential bearish momentum.

The 1-hour RSI stands at 37, which suggests that HYPE is nearing oversold conditions, while the 7-day RSI at 51 indicates neutral momentum. Over the past week, HYPE has experienced a slight price decline of 0.34%, yet it has rebounded significantly over the past 14 days with a price increase of 57.35%, indicating strong recovery potential.

Despite the recent downturn, HYPE is still trading significantly below its all-time high of $59.30, reached on September 18, 2025. Given the current technical indicators, including the 30-day price change of 26.30%, there is evidence of a longer-term bullish trend, albeit accompanied by short-term volatility.

Based on the combination of current price action, RSI readings, and moving averages, the recommendation for Hyperliquid (HYPE) is to Hold. While short-term pressures exist, the longer-term momentum indicates potential for recovery and further growth, especially if market conditions stabilize.