Hyperliquid (HYPE) is currently trading at $35.46, experiencing an 8.83% increase over the past 24 hours. The price has fluctuated within a daily range of $36.03 (high) and $32.46 (low), indicating a healthy volatility conducive to trading opportunities.

The trading volume stands at approximately 748.69 million, contributing to a volume-to-market cap ratio of 8.83%. The hourly moving averages are showing bullish signals, with the 8 SMA at $33.58 (+5.60%) and the 13 SMA at $33.47 (+5.93%), suggesting upward momentum.

The 1-hour RSI is at 66, approaching overbought territory, while the 7-day RSI is at 53, indicating a balanced momentum. Over the past 14 days, HYPE has seen a price increase of 62.25%, reflecting strong bullish sentiment, and the 30-day change stands at 32.09%, confirming sustained positive performance.

Despite the recent gains, the price remains significantly below its all-time high of $59.30 reached in September 2025, suggesting potential for further upside. However, the current price is nearing a short-term resistance zone, which could trigger profit-taking among traders.

Based on the strong volume, positive moving averages, and solid short to mid-term price momentum, I recommend a Buy rating. The underlying bullish trend, combined with healthy trading activity, supports the potential for continued upward movement in HYPE's price.