Hyperliquid (HYPE) is currently priced at $31.04, reflecting a slight 24-hour increase of 1.6453%. The daily trading range shows volatility with a high of $31.66 and a low of $29.37, indicating a 2.29% price movement.

The trading volume stands at 304,651,331, corresponding to a volume-to-market cap ratio of 4.12%, suggesting healthy liquidity. Short-term moving averages indicate a bullish sentiment, with the 8 SMA at $29.95 (+3.64%) and the 55 SMA at $29.75 (+4.32%), while longer-term moving averages are showing moderate positive momentum.

The 1-hour RSI is positioned at 53, indicating a neutral to slightly bullish trend in the immediate term. Conversely, the 7-day RSI at 48 suggests a slight bearish sentiment, with a price change of -14.80% over the past week, contrasting with a stronger 30-day increase of 20.73%.

Given the recent performance metrics and the price dynamics, HYPE is currently facing some headwinds but has potential for recovery given its liquidity and bullish short-term indicators. The all-time high of $59.30, reached in September 2025, highlights significant upside potential if upward momentum can be sustained.

Considering the current technical indicators and overall market sentiment, I recommend a Hold rating for HYPE. This stance reflects caution in light of recent bearish trends while acknowledging the potential for recovery supported by strong short-term moving averages and liquidity.