Hyperliquid (HYPE) is currently priced at $29.77, reflecting a 24-hour decline of 1.66%. The daily trading range is relatively tight, with a high of $30.27 and a low of $29.42, indicating limited volatility in the short term.

The trading volume stands at approximately 82.87 million, contributing to a volume-to-market cap ratio of 1.17%. This level of volume suggests active trading but may indicate uncertainty among investors as the price approaches critical support and resistance levels.

From a technical perspective, the hourly moving averages indicate mixed signals: the 8 and 13 SMA show slight bullish trends, while the 21 and 55 SMA reveal bearish pressure. The 1-hour RSI at 47 suggests a neutral momentum, while the 7-day RSI at 50 confirms a lack of direction over the past week.

Fundamentally, HYPE has seen a notable price drop of 4.40% over the past week and 5.75% over the last two weeks. However, a significant 30-day price increase of 41.72% indicates that the asset has previously gained momentum, which could attract buyers looking for a rebound.

The all-time high of $59.30 achieved on September 18, 2025, presents a substantial upside potential from the current price. Investors may view this historical high as a target, provided market conditions improve.

In conclusion, despite the recent declines and mixed technical indicators, the strong 30-day performance suggests potential for recovery. Therefore, I recommend a Hold rating, allowing investors to assess the market for further signs of bullish momentum before making a decisive move.