Hyperliquid (HYPE) is currently trading at $38.02, reflecting a minor decline of 1.44% over the past 24 hours. The daily trading range shows a low of $37.74 and a high of $39.38, indicating a relatively stable price movement within this range.

Volume stands at 412,809,640, with a volume-to-market cap ratio of 4.01%, suggesting a moderate level of trading activity relative to its market capitalization. The hourly moving averages indicate a bearish trend, with the 8 SMA at $38.22 and the 55 SMA at $38.92, all showing negative percentage changes.

The 1-hour RSI is positioned at 37, indicating that HYPE is nearing oversold territory, while the 7-day RSI remains neutral at 50. Both the 7-day and 14-day price changes are negative, with decreases of 5.40% and 7.90%, respectively, reflecting a bearish sentiment in the medium term.

Historically, HYPE reached its all-time high of $59.30 on September 18, 2025, suggesting significant potential for recovery and growth if market conditions improve. However, the current price is approximately 36% below this peak, indicating room for upward movement if bullish momentum develops.

Given the current technical indicators and the bearish sentiment in the short to medium term, the recommendation is to hold. While there are signs of potential reversal, the prevailing downward trend necessitates caution before entering new positions.