Hyperliquid (HYPE) is currently trading at $24.01, reflecting a significant 24-hour decline of 5.54%. The daily range has been relatively narrow, fluctuating between $23.82 and $26.07, indicating a lack of momentum following a recent downturn.

Trading volume stands at 179,640,828, which gives a volume-to-market cap ratio of 3.14%. This suggests moderate trading activity relative to market capitalization, but the price drop signals potential selling pressure and a bearish sentiment among traders.

Moving averages indicate a bearish trend, with the 8, 13, and 21 SMAs all showing losses between 5.47% and 6.37% over the past days. The 1-hour RSI is at a critically low level of 16, indicating that HYPE is potentially oversold, while the 7-day RSI remains neutral at 50, reflecting indecision in the market.

Over the past week, HYPE has experienced a price drop of 2.61%, and a more substantial decline of 11.67% over the past 14 days. This consistent downward trajectory raises concerns about short-term recovery, particularly as the price is currently well below key moving averages.

Despite the recent price volatility, HYPE remains significantly below its all-time high of $59.30, reached on September 18, 2025. This substantial gap suggests that while there may be long-term potential, current technical indicators do not support a bullish outlook in the immediate term.

Based on the analysis, the recommendation for Hyperliquid (HYPE) is a Sell. The combination of declining prices, bearish moving averages, and low RSI readings indicates a lack of upward momentum, warranting a cautious stance for potential investors.