Jupiter Perpetuals Liquidity Provider Token (JLP) is currently priced at $4.64, reflecting a 24-hour decline of 3.07%. The asset has traded within a daily range of $4.61 to $4.83, indicating limited volatility with a daily range of just 0.22%.

Trading volume has reached approximately $60.58 million, with a volume-to-market cap ratio of 3.66%, suggesting moderate liquidity. However, the current price is below key moving averages, with the 8, 13, 21, and 55 SMAs indicating negative trends of 0.81% to 1.91%.

The 1-hour RSI is at 32, which signals that JLP is in oversold territory, suggesting potential for a rebound in the short term. In contrast, the 7-day RSI at 48 indicates a neutral trend, while the 7-day price change shows a decrease of approximately 4.13%, suggesting ongoing bearish sentiment.

Over the past 30 days, JLP has experienced a price drop of nearly 9.82%, reflecting a longer-term bearish trend. The all-time high of $5.99, reached in October 2025, remains a significant resistance level that JLP has yet to approach in the current market environment.

Given the negative short-term momentum and the fact that JLP is trading below its key moving averages, the market sentiment appears to be bearish. However, the oversold condition indicated by the 1-hour RSI may present a short-term buying opportunity.

Overall, I recommend a Hold rating on JLP at this juncture. The recent price action and technical indicators suggest caution, as further declines could be possible, but the potential for a short-term rebound exists.