Hyperliquid (HYPE) is currently trading at $28.74, reflecting a slight decline of 0.46% over the past 24 hours. The daily trading range has been relatively tight, with a high of $29.15 and a low of $27.83, indicating low volatility in the short term.

The trading volume of 193,576,921 suggests a moderate level of market activity, with a volume-to-market cap ratio of 2.82%, indicating that a significant portion of the market cap is being traded. The moving averages reveal mixed signals; while the shorter-term SMAs (8, 13, 21) indicate upward momentum, the longer-term 55 SMA shows a negative trend, suggesting potential resistance ahead.

The 1-hour RSI is at 51, indicating neutral market conditions, while the 7-day RSI at 45 points to bearish sentiment in the medium term. The price has declined by 2.75% over the last week and by 11.83% over the past 14 days, suggesting a bearish trend that could be concerning for short-term traders.

However, the 30-day price change of +34.11% indicates that HYPE has experienced a strong upward trend in the past month, which may attract long-term investors. The all-time high of $59.30 reached in September 2025 still looms as a target, but current price action suggests that a retracement may be necessary before any significant recovery.

Given the mixed indicators—short-term bullish momentum against longer-term bearish trends and declining RSI levels—this presents a cautious outlook. Therefore, the recommendation is to Hold HYPE at the current price level until clearer bullish signals emerge. This strategy allows for positioning while waiting for potential recovery or confirmation of a trend reversal.