Hyperliquid (HYPE) is currently trading at $32.29, down 2.83% over the last 24 hours. The price has fluctuated between a high of $36.03 and a low of $31.55, indicating a daily range of 4.48%, which suggests moderate volatility.

The volume stands at approximately $969.8 million, reflecting a healthy trading activity that corresponds to a volume-to-market cap ratio of 12.59%. However, the hourly moving averages reveal a bearish trend, with all SMAs (8, 13, 21, and 55) showing declines between 4.99% and 5.94%, while the 144 SMA is marginally up by 0.05%.

The current 1-hour RSI is at 30, indicating that HYPE is nearing oversold conditions, which often precedes potential price reversals. In contrast, the 7-day RSI sits at 52, suggesting that the asset is relatively neutral in the short term, while the 7-day price change shows a decline of 5.08%.

On a longer time frame, HYPE has experienced a substantial increase of 48.81% over the past 14 days and a 19.03% rise over the last 30 days, indicating strong momentum recently despite the current pullback. The all-time high of $59.30 achieved in September 2025 serves as a critical resistance level, while the recent lows could act as support.

Given the combination of bearish short-term moving averages, oversold conditions indicated by the RSI, and positive long-term price trends, HYPE is currently facing a complex situation. The price is poised for potential upward movement due to oversold conditions, but immediate bearish trends suggest caution.

Recommendation: **Hold**. The short-term bearish indicators warrant a conservative approach, while the long-term bullish momentum might provide opportunities for recovery in the future. Investors should monitor for signs of reversal before making new positions.