Jupiter Perpetuals Liquidity Provider Token (JLP) is currently trading at $4.67, showing a minor decline of 0.39% over the past 24 hours. The token has maintained a daily range between $4.67 and $4.71, indicating limited volatility and a stable trading environment.

The trading volume stands at approximately 20.56 million, which translates to a volume-to-market cap ratio of 1.21%, suggesting moderate liquidity. Technical indicators reflect a bearish sentiment, with the 1-hour RSI at 30, indicating oversold conditions, while the 7-day RSI at 53 shows a neutral stance.

Short-term moving averages are indicating downward pressure, particularly the 55 SMA, which is at $4.73 and shows a decline of 1.28%. The 14-day price change is negative at -2.20%, while the 30-day change reflects a more substantial downturn of -13.14%, signaling a potential bearish trend in the medium term.

Despite the current price being significantly below its all-time high of $5.99, reached on October 6, 2025, the recent 7-day price change of 4.54% provides a glimmer of recovery potential. However, the overall trend remains concerning, given the declines observed over the past month and the resistance from moving averages.

In conclusion, the data indicates that JLP is currently facing bearish momentum, with short-term indicators pointing to oversold conditions that could lead to a minor recovery. Given the current market dynamics and lack of strong bullish signals, I recommend a Hold rating, advising to monitor for potential entry points if the price stabilizes or shows signs of reversal.