Jupiter Perpetuals Liquidity Provider Token (JLP) is currently priced at $4.64, experiencing a 24-hour decline of 2.16%. The token has traded within a daily range of $4.63 to $4.75, indicating limited volatility with a narrow daily range of 0.12%.

Volume over the last 24 hours stands at approximately 12.96 million, giving it a volume-to-market cap ratio of 0.85%. The 1-hour RSI is critically low at 19, suggesting that JLP is heavily oversold, while the 7-day RSI at 39 indicates that it is nearing oversold territory, which could imply potential for a price rebound.

Moving averages show a consistent downtrend, with the 8, 13, and 21 SMA all below the current price, signaling bearish sentiment in the short term. The 55 SMA and 144 SMA at $4.81 and $4.88 respectively further reinforce this downtrend, indicating selling pressure persists.

In terms of price momentum, the 7-day and 14-day price changes are both negative, reflecting a continued bearish trend over the past two weeks. However, the 30-day price change shows a modest gain of 2.52%, indicating some resilience over a longer timeframe.

Considering the recent all-time high of $5.99, reached in October 2025, JLP remains significantly below this peak, suggesting potential for recovery if market conditions improve. However, the current bearish indicators, low RSI levels, and declining moving averages suggest that further downside may be possible before a reversal can be confirmed.

In conclusion, the prevailing trend indicates a bearish outlook for JLP in the short term, with critical oversold signals possibly leading to a short-term bounce. Given the current data, I recommend a Hold rating, as while the oversold conditions may prompt a rebound, the overall trend remains negative and caution is warranted for new positions.