Hyperliquid (HYPE) is currently priced at $34.76, reflecting a minor decline of 1.77% over the last 24 hours. The daily trading range has been relatively tight, with a high of $36.19 and a low of $34.26, indicating a market that is consolidating within this price band.

The trading volume over the past 24 hours stands at approximately $355.48 million, representing a volume-to-market cap ratio of 3.78%. This suggests a moderately active market, but with recent price changes indicating a potential decrease in momentum as shown by the 1-hour RSI at 49, suggesting neutrality.

Short-term moving averages are indicating bearish sentiment with the 8 SMA at $35.23 and the 13 SMA at $35.09 both showing declines of over 1%. Conversely, the 144 SMA shows a positive trend at $33.81 with a gain of 2.80%, hinting at stronger support at lower price levels.

In the context of longer-term performance, HYPE has experienced a 7-day price increase of approximately 6.93%, contrasting sharply with a 14-day decline of about 10.52% and a 30-day decrease of 25.74%. This disparity highlights volatility and suggests that while there was recent short-term strength, the longer-term outlook remains negative.

Considering the all-time high of $59.30 reached in September 2025, the current price represents a significant retracement. Given the mixed signals from technical indicators, with short-term weaknesses contrasting with some support at longer moving averages, the market sentiment appears cautious.

Based on the analysis, the recommendation for HYPE is to Hold. The current price shows potential for recovery given the recent 7-day increase but is offset by the longer-term bearish trends. Holding at this stage allows investors to assess if the price can stabilize above critical moving averages and build momentum without incurring further losses.