Hyperliquid (HYPE) is currently priced at $24.44, reflecting a minor decline of 0.16% over the past 24 hours. The daily trading range has been relatively narrow, between $23.91 and $24.65, indicating a lack of volatility in the short term.

Volume over the last 24 hours stands at approximately 90.99 million, contributing to a Vol/Market Cap ratio of 1.56%. This suggests moderate trading activity, but the relatively low percentage indicates that the market is not currently experiencing significant investor enthusiasm or selling pressure.

Analyzing the moving averages reveals mixed signals; the shorter moving averages (8 SMA and 13 SMA) are showing positive momentum at +1.38% and +1.42%, respectively, while the 55 SMA is down by 1.79%. The 144 SMA at $26.03 indicates a long-term bearish trend, down 6.10%, suggesting that the price may face resistance above the current levels.

The 1-hour RSI is at 55, indicating neutral momentum, while the 7-day RSI at 45 shows the asset is nearing oversold conditions. The 7-day price change of -2.24% and the more significant 30-day decline of -16.47% reflect bearish sentiment, reinforcing the notion of a downward trend in recent weeks.

Hyperliquid's all-time high of $59.30, reached in September 2025, suggests substantial room for growth, but current price action indicates a lack of bullish momentum. The recent price changes and moving average trends suggest that HYPE is struggling to maintain upward momentum and is potentially headed for further declines.

Given the current technical indicators and price trends, a Hold rating is recommended for Hyperliquid (HYPE). This rating is based on the combination of short-term positive signals countered by longer-term bearish trends and the overall lack of substantial momentum in the market. Investors should monitor for clearer bullish signals before considering a Buy.