Hyperliquid (HYPE) is currently trading at $26.10, experiencing a 24-hour decline of 3.77%. The price has fluctuated between a high of $28.17 and a low of $25.78, indicating a daily range of 2.39%.

The trading volume stands at 274,566,285, which corresponds to a volume-to-market cap ratio of 4.42%. The short-term moving averages show a bearish trend, with the 8 SMA at $26.31, the 13 SMA at $26.62, and the 21 SMA at $27.00, all indicating downward pressure.

The 1-hour Relative Strength Index (RSI) is at 23, suggesting oversold conditions, while the 7-day RSI at 43 indicates a neutral stance. Over the past week, HYPE has dropped approximately 15.83%, and the 14-day price change is similarly negative at -15.74%, signaling ongoing bearish sentiment.

Despite a 30-day price increase of 12.43%, the recent downtrend and the proximity of the price to the lower end of its trading range warrant caution. The all-time high of $59.30, reached on September 18, 2025, seems increasingly distant given current performance metrics.

In summary, the current bearish indicators, including low RSI values and a consistent downtrend in moving averages, suggest a lack of immediate bullish momentum. Therefore, the recommendation for HYPE is to Hold, as potential buyers may want to wait for clearer signs of a reversal or stabilization before entering the market.