Hyperliquid (HYPE) is currently priced at $21.82, reflecting a 1.44% increase over the last 24 hours. The daily range has been relatively tight, with a high of $22.13 and a low of $20.52, indicating some consolidation around the current price level.

Volume has reached approximately $260 million, representing 5% of the market cap, which suggests healthy trading activity. However, the 7-day and 14-day price changes are negative at -12.05% and -17.59% respectively, indicating a bearish trend over the past two weeks.

The hourly moving averages show mixed signals; the 8 SMA and 13 SMA indicate short-term bullish momentum, while the 55 SMA and 144 SMA suggest longer-term bearish pressure. The 1-hour RSI stands at 62, indicating potential overbought conditions, while the 7-day RSI at 43 suggests a lack of momentum in the medium term.

Given the current technical indicators and recent price performance, HYPE is facing significant resistance at around $22.13, while support is identified near the $21 level. Despite short-term bullish signals, the broader trend remains negative, evidenced by the declines over the past month.

Considering the current technical landscape and the underlying market sentiment, a cautious approach is warranted. Therefore, I rate Hyperliquid (HYPE) as a Hold, as it may be prudent to wait for clearer bullish signals before considering an entry or increasing exposure.