Hyperliquid (HYPE) is currently priced at $23.22, showing a 24-hour change of 2.62%, indicating a positive short-term momentum. The daily trading range has been relatively tight, between $22.61 and $23.69, reflecting low volatility over the past 24 hours with a daily range of just 1.08%.

Trading volume stands at 126,622,583, which represents 2.29% of the market capitalization, suggesting moderate interest in HYPE. The hourly moving averages indicate bullish sentiment as the shorter-term averages (8 SMA and 13 SMA) are above the longer ones, particularly the 55 SMA at $22.14, which has risen by 4.89%.

The 1-hour RSI at 55 suggests that HYPE is approaching overbought territory but is not yet overextended. In contrast, the 7-day RSI at 46 indicates that the asset is closer to oversold conditions, which could attract buyers in the near term, despite a negative price change of 8.63% over the last week.

The longer-term price performance shows a 14-day change of -3.40% and a 30-day change of -4.78%, signaling bearish trends in the medium term. The all-time high of $59.30 from September 2025 emphasizes significant potential for upside, but current performance suggests caution is warranted.

Given the mixed signals from technical indicators and the overall bearish trend in the longer timeframes, a Hold rating is recommended. This stance allows for a potential recovery in the short term while remaining mindful of the underlying negative momentum in the longer term.