Hyperliquid (HYPE) is currently trading at $25.98, reflecting a robust 24-hour change of 6.13%, indicating a bullish short-term sentiment. The daily trading range of 2.12% shows moderate volatility, with a 24-hour high of $26.42 and a low of $24.30, suggesting traders are actively engaging around this price level.

The volume of $260,704,961 corresponds to a volume-to-market cap ratio of 4.21%, which demonstrates a healthy trading activity relative to its market capitalization. Hourly moving averages suggest a mixed short-term outlook, with the 8 SMA slightly declining at $26.00, while the 21 SMA shows a stronger upward momentum at $25.42, indicating potential support levels.

The 1-hour RSI is at 72, suggesting that HYPE is currently overbought in the short term, which may lead to a price correction. Conversely, the 7-day RSI at 50 indicates a neutral position, while the recent 7-day price change of -5.37% suggests a recent pullback, making current price levels an interesting entry point for traders.

Over the last 14 days, HYPE has shown a modest price change of 0.63%, while the 30-day price change stands at a notable -11.51%, reflecting a downward trend over the longer term. However, the all-time high of $59.30 reached in September 2025 indicates significant long-term potential if the asset can regain upward momentum.

Given the current price, RSI levels, and recent price movements, a cautious approach is warranted. The overbought condition on the hourly RSI suggests potential short-term profit-taking, while longer-term indicators indicate some recovery potential if prices stabilize.

Rating: Hold. This recommendation is based on short-term overbought conditions and potential for a pullback, balanced against long-term upside potential given the significant all-time high.