Hyperliquid (HYPE) is currently trading at $29.47, reflecting a slight decline of 2.69% over the last 24 hours. The daily trading range of 1.35% indicates relatively low volatility, with prices oscillating between a high of $30.28 and a low of $28.93.

Volume for HYPE stands at approximately 189.9 million, translating to a 2.70% volume-to-market cap ratio, suggesting moderate trading activity relative to its market capitalization. The short-term moving averages show a mixed trend, with the 8 SMA at $29.30 indicating positive momentum, while the 55 and 144 SMAs at $29.96 and $30.65, respectively, point to bearish sentiment over longer periods.

The Relative Strength Index (RSI) readings indicate a neutral to slightly bearish sentiment; the 1-hour RSI is at 42, suggesting recent downward pressure, while the 7-day RSI at 48 signals a near equilibrium but with potential for further downside. Over the past 30 days, HYPE has experienced a robust increase of approximately 22.95%, but the 14-day change of -11.90% highlights recent bearish pressure that may be concerning for short-term traders.

Given that HYPE is trading well below its all-time high of $59.30 reached in September 2025, there is substantial room for recovery in the long-term horizon. However, the current technical indicators suggest that immediate momentum is weak and that there could be further downside risk in the short term.

Considering the current data and market conditions, I rate HYPE as a Hold. This recommendation is based on the potential for recovery from recent price dips, but it is advisable to monitor the situation closely for signs of bullish reversal before making new investments.