Jupiter Perpetuals Liquidity Provider Token (JLP) is currently priced at $4.47, reflecting a 24-hour decline of 2.05%. The trading range over the past day has been between $4.42 and $4.64, indicating a relatively tight daily range of 0.22%, which suggests limited volatility in the short term.

The trading volume stands at approximately 33.39 million, representing 2.15% of the market cap. This volume indicates moderate interest among traders, but the recent 1-hour RSI of 37 and 7-day RSI of 41 suggest that JLP is nearing oversold conditions, which could lead to a potential rebound.

In terms of moving averages, the short-term averages (8 SMA at $4.46 and 13 SMA at $4.49) indicate a slight bullish momentum, while the longer-term averages (21 SMA at $4.51 and 55 SMA at $4.52) show a bearish trend. The significant drop of around 7.77% over the past 14 days, coupled with the 30-day decline of 2.71%, reinforces the current bearish sentiment.

The all-time high for JLP was $5.99, reached on October 6, 2025. This historical data suggests a potential upside of approximately 33.9% from the current price, but the recent downward trend raises questions about the token's short-term recovery.

Considering the current price action, momentum indicators, and recent performance, I recommend a Hold rating for JLP. The oversold conditions could present an opportunity for a short-term bounce, but the overall bearish trend warrants caution before considering a Buy.