Hyperliquid (HYPE) is currently trading at $21.70, showing a positive 24-hour change of 4.70%. The asset has experienced a daily range of 1.54%, with a 24-hour high of $22.15 and a low of $20.61, indicating a relatively stable trading environment within this period.

Volume stands at approximately 227.99 million, equating to a 4.39% ratio of its market cap. This level of volume suggests moderate trading activity, which is essential for confirming price movements and establishing market sentiment.

Moving averages indicate mixed signals; the 8 SMA and 13 SMA are both slightly declining, while the 21 SMA is marginally increasing. The 144 SMA, however, is significantly lower at $23.67, reflecting a bearish longer-term trend as the price is well below this moving average.

The Relative Strength Index (RSI) metrics present a bearish outlook, with the 1-hour RSI at 47 and the 7-day RSI at 43, indicating that HYPE is approaching oversold conditions. Additionally, the asset has seen considerable negative momentum over the past 7, 14, and 30 days, with price changes of -13.80%, -16.87%, and -10.67%, respectively.

The all-time high of $59.30, reached on September 18, 2025, highlights significant potential upside if the market sentiment improves. However, the current downward trends in both price and RSI suggest that HYPE is struggling to maintain momentum, making it essential for traders to assess their positions carefully.

In conclusion, the mixed indicators and negative price trends suggest a cautious approach to Hyperliquid (HYPE). Given the current data, a Hold rating is appropriate, as traders should wait for clearer bullish signals or a reversal in momentum before considering a Buy position.