Jupiter Perpetuals Liquidity Provider Token (JLP) is currently priced at $4.59, experiencing a 24-hour change of -2.91%. The price has ranged between a daily high of $4.79 and a low of $4.55, indicating low volatility with a daily range of 0.24%.

The trading volume stands at approximately 63.83 million, which represents 3.43% of its market capitalization. The short-term moving averages suggest a bearish trend, with the 8 SMA showing a slight increase of 0.02%, while the 13, 21, 55, and 144 SMAs indicate declines of up to 4.72%.

The 1-hour Relative Strength Index (RSI) is at 24, indicating an oversold condition, while the 7-day RSI at 42 suggests that the asset is nearing a neutral zone. Additionally, JLP has experienced significant price declines over the past month, with a 7-day change of -11.58%, a 14-day change of -10.83%, and a 30-day change of -14.83%.

The all-time high for JLP was $5.99, reached on October 6, 2025, suggesting potential upside if the market conditions improve. However, the current downward momentum, combined with weak RSI readings, indicates a lack of buying pressure.

Given the current bearish trend and oversold conditions, there is potential for a short-term rebound. However, due to the ongoing price decline and unfavorable moving averages, a cautious approach is warranted.

Recommendation: Hold. The oversold condition may present a buying opportunity in the short term, but significant resistance levels and the prevailing downtrend should be monitored closely before any new positions are taken.