Hyperliquid (HYPE) is currently trading at $32.59, experiencing a 4.87% increase over the last 24 hours. The daily trading range has been 2.68%, with a high of $33.4 and a low of $30.72, indicating a healthy volatility for short-term traders.

The volume of $332,457,389 reflects significant trading activity, with a volume-to-market cap ratio of 4.28%, suggesting that the market is actively engaged with HYPE. The hourly moving averages show mixed signals, with the 8 SMA at $32.72 indicating a slight downward trend, while the longer-term 21 SMA and 55 SMA both indicate upward momentum.

The 1-hour RSI is at 64, indicating that HYPE is nearing overbought territory, while the 7-day RSI is at 46, suggesting that the asset is not yet oversold. Price changes over the past 7, 14, and 30 days are positive, with increases of 6.12%, 46.72%, and 33.88% respectively, demonstrating strong upward momentum in the medium term.

The all-time high for HYPE stands at $59.3, achieved on September 18, 2025, which highlights significant potential for future growth. However, the current price is still approximately 45% below this all-time high, suggesting that there may be considerable room for recovery if market conditions remain favorable.

In conclusion, given the recent price action, trading volume, and relative strength indicators, the recommendation for HYPE is a Buy. The combination of strong price momentum, active trading volume, and room for growth towards its all-time high positions HYPE favorably for potential gains in the near term.