Hyperliquid (HYPE) is currently trading at $30.32, reflecting a 24-hour change of -1.82%. The asset has experienced a daily range of 2.92%, with a high of $31.17 and a low of $28.25, indicating moderate volatility.

Volume stands at approximately $400 million, translating to a volume-to-market cap ratio of 4.88%, suggesting decent liquidity. The hourly moving averages show a mix of momentum, with shorter averages (8 SMA and 13 SMA) indicating bullish trends, while longer averages (55 SMA and 144 SMA) point to bearish momentum.

The 1-hour RSI is at 60, suggesting that HYPE is nearing overbought territory in the short term. In contrast, the 7-day RSI at 49 reflects a neutral stance, indicating a lack of strong momentum in either direction.

Over the past week, HYPE has seen a minor decline of 0.72%, while the 14-day and 30-day changes show more significant drops of 4.08% and 28.43%, respectively. This longer-term bearish trend raises concerns about the asset's price strength.

Hyperliquid's all-time high of $59.30 was reached in September 2025, suggesting potential upside but also highlighting the distance from current levels. The overall market sentiment appears cautious, with recent price action showing the asset struggling to maintain upward momentum.

Given the mixed signals from technical indicators and the prevailing bearish trend over the longer term, a cautious stance is warranted. Therefore, the recommendation for Hyperliquid (HYPE) is to Hold, allowing for potential stabilization while monitoring for bullish confirmation or further downside risk.