Hyperliquid (HYPE) is currently priced at $22.4, reflecting a 24-hour decline of 3.88%. The daily trading range has been relatively tight at 1.31%, indicating limited volatility, with a high of $23.69 and a low of $22.38 in the past day.

Volume has reached 131,645,346, representing a 2.46% turnover relative to its market capitalization. The hourly moving averages indicate a bearish trend, with the 8 SMA and 13 SMA down by 3.58% and 3.75%, respectively, while the 55 SMA is slightly more stable at -0.55%.

The current 1-hour RSI at 36 suggests that HYPE is approaching oversold conditions, while the 7-day RSI of 46 reflects a lack of bullish momentum over the past week. The price has dropped 13.17% over the last week, indicating sustained selling pressure, coupled with declines of 8.22% and 11.07% over the last 14 and 30 days, respectively.

HYPE's all-time high stands at $59.3, reached in September 2025, indicating significant room for growth from the current levels. However, the persistent downward price action and the current technical indicators suggest that a bearish sentiment prevails in the short to medium term.

Given the combination of negative price momentum, bearish moving averages, and an RSI indicating potential oversold conditions, a cautious approach is warranted. Therefore, the recommendation is to hold HYPE for now while monitoring for signs of reversal or stabilization before considering a buy position.