Hyperliquid (HYPE) is currently trading at $34.94, reflecting a 3.52% increase over the last 24 hours. The asset has exhibited a daily range of 5.28%, with a 24-hour high of $36.54 and a low of $31.26, indicating a healthy trading environment with sufficient volatility.

The trading volume stands at approximately $1.3 billion, representing 15.58% of its market cap, which suggests strong market participation and liquidity. Short-term moving averages are showing upward momentum, with the 8 SMA at $32.69 and a notable increase of 6.88%, while the 144 SMA indicates a slower rise at 4.18%, highlighting a potential bullish trend.

The Relative Strength Index (RSI) readings are neutral, with the 1-hour RSI at 52 and the 7-day RSI at 53. This suggests that HYPE is neither overbought nor oversold, supporting the continuation of the current trend without immediate reversal signals.

Fundamentally, the price has increased by 19.66% over the past week and 60.44% over the past two weeks, demonstrating significant upward momentum in the medium term. The current price is still below its all-time high of $59.30, which occurred on September 18, 2025, indicating potential room for growth.

Considering the combination of positive price action, strong volume, and favorable moving average trends, the outlook for Hyperliquid appears bullish. Therefore, the recommendation is a Buy, as technical indicators and recent performance support further price appreciation in the near term.