Hyperliquid (HYPE) is currently trading at $24.72, showing a 1.97% increase over the past 24 hours. The daily price range indicates volatility, with a high of $25.49 and a low of $24.06, reflecting a daily range of 1.43%.

The trading volume of 212,883,676 suggests a moderate level of market activity, with the volume-to-market cap ratio at 3.18%. The hourly moving averages present mixed signals; the 8 SMA and 13 SMA are declining, while the 21 SMA and 55 SMA show slight increases, indicating short-term bearish pressure against a more stable longer-term trend.

The 1-hour RSI at 62 indicates that HYPE is approaching overbought conditions, while the 7-day RSI at 46 suggests that it is nearing neutral territory, which could indicate potential for price recovery. However, the 7-day, 14-day, and 30-day price changes show declines of 13.47%, 17.02%, and 23.97%, respectively, pointing to significant bearish momentum in the medium term.

Despite the current uptick, HYPE remains well below its all-time high of $59.30 from September 2025, indicating a substantial drawdown and potential resistance above $25. Volume dynamics suggest that while there is activity, the market sentiment may not be strong enough to support a sustainable rally.

Given the combination of short-term bearish signals from moving averages, moderate RSI levels, and the longer-term downtrend in price, a cautious approach is warranted. Therefore, the recommendation for Hyperliquid (HYPE) is to Hold, as further confirmation of a trend reversal is needed before considering a Buy.