Jupiter Perpetuals Liquidity Provider Token (JLP) is currently priced at $4.60, showing a minimal 24-hour change of 0.08621%. The daily price range has been tight, with a high of $4.66 and a low of $4.56, indicating low volatility in the short term.

Volume stands at 27,257,228, contributing to a Vol/Market Cap ratio of 1.76%, suggesting moderate liquidity. However, the hourly moving averages reflect a downward trend, with the 144 SMA at $4.68 showing a decline of 1.63%, indicating bearish pressure over the last few days.

The 1-hour RSI is at 33, which indicates potential oversold conditions, while the 7-day RSI is at 40, suggesting a lack of momentum in the near-term price action. The 7-day price change has been negative at -6.45%, signaling a bearish sentiment, though the 30-day price change is positive at 2.82%, hinting at potential support levels.

Given the proximity to the all-time high of $5.99, reached on October 6, 2025, the market may see a rebound if it can sustain above the current support levels. However, the persistent decline in moving averages and RSI indicators suggest that further downward movement could occur before any significant recovery.

In conclusion, the current indicators suggest that JLP is experiencing short-term weakness with potential for a corrective bounce. Therefore, the recommendation is to Hold, as current market conditions do not favor aggressive buying until clearer bullish signals emerge.