Hyperliquid (HYPE) is currently priced at $29.94, reflecting a 5.68% increase over the past 24 hours. The daily trading range has been relatively tight, with a high of $30.08 and a low of $28.26, suggesting stable price action within a narrow band.

Trading volume stands at approximately 318.5 million, with a volume-to-market cap ratio of 3.93%, indicating active participation in the market. The short-term moving averages (8 SMA and 13 SMA) are both showing positive momentum at +1.68% and +1.67%, respectively, suggesting potential upward price support in the near term.

The 1-hour RSI is at 56, indicating that HYPE is neither overbought nor oversold, which provides room for further price appreciation. However, the 7-day RSI at 48 signals a more neutral to bearish sentiment over a longer time frame, compounded by a 7-day price decline of 3.79% and a significant 30-day drop of 22.81%.

Considering the technical indicators, the price remains below the all-time high of $59.3 achieved in September 2025, indicating potential for growth if upward momentum can be sustained. However, the declining price trend over the past month raises caution regarding immediate bullish sentiment.

In conclusion, the mixed signals from short-term momentum and longer-term bearish trends suggest a Hold rating for HYPE at this time. While recent gains may offer short-term trading opportunities, the overall trend and RSI readings suggest a wait-and-see approach before committing to new positions.