Hyperliquid (HYPE) is currently trading at $23.68, reflecting a slight 24-hour decline of 1.13%. The daily price range has been relatively narrow, oscillating between a low of $23.52 and a high of $24.19, indicating limited volatility in the short term.

Trading volume stands at 171,154,209, representing a volume-to-market cap ratio of 3.03%, suggesting moderate trading activity relative to its market capitalization. The 1-hour RSI at 33 indicates that HYPE is nearing oversold conditions, while the 7-day RSI of 44 signals a lack of bullish momentum over the past week.

Moving averages reveal a bearish trend, with shorter-term SMAs (8, 13, and 21) indicating consistent declines, particularly the 55 SMA at $24.85, down 4.72%. The 144 SMA at $25.11 also reflects a significant downward trend of 5.71%, reinforcing the bearish sentiment in the market.

In terms of price changes, HYPE has experienced a decline of 1.56% over the past week and a more substantial 10.35% over the last 14 days. Additionally, the asset is down approximately 1.56% over the last 30 days, showing a consistent downward trajectory.

Considering the technical indicators and recent price performance, the market sentiment appears bearish, and HYPE is currently struggling to regain upward momentum. Given the lack of bullish signals and the presence of resistance levels indicated by moving averages, a Hold rating is recommended, as waiting for a clearer reversal signal could be prudent before making any buy or sell decisions.