Hyperliquid (HYPE) is currently trading at $24.83, reflecting a significant 24-hour decline of nearly 9.87%. The asset has demonstrated volatility, with a daily range of 3.88%, hitting a high of $27.69 and a low of $23.81 within the same period.

Volume stands at 568,622,247, translating to a volume-to-market cap ratio of 8.45%, indicating substantial trading activity relative to its market capitalization. The short-term moving averages show a bullish inclination with the 8 SMA at $24.29 and 13 SMA at $24.32 both increasing, while longer-term averages, such as the 55 SMA at $26.07 and 144 SMA at $27.72, reflect bearish momentum.

The Relative Strength Index (RSI) readings reveal a mixed sentiment; the 1-hour RSI at 52 suggests a neutral stance, while the 7-day RSI at 43 indicates potential oversold conditions. The price has experienced considerable downward pressure, with a 7-day change of -9.45%, a 14-day change of -27.77%, and a 30-day change of -35.63%, signaling a bearish trend over both the short and medium term.

Despite the recent downward trajectory, the all-time high for HYPE at $59.30 set on September 18, 2025, highlights significant long-term potential. However, current technical indicators suggest that a recovery will require overcoming immediate resistance levels around $27 and the longer-term resistance at the 55 SMA of $26.07.

Given the prevailing bearish trends, combined with recent price declines and mixed RSI indicators, the recommendation for Hyperliquid (HYPE) is to Hold. This strategy allows for assessment of potential recovery signals while avoiding the risks associated with entering a downtrend.