Jupiter Perpetuals Liquidity Provider Token (JLP) is currently priced at $4.37, reflecting a 1.63% decline over the past 24 hours. The asset's daily trading range was between $4.36 and $4.58, indicating low volatility, with a volume of approximately 34.7 million, representing 2.31% of its market cap.

Technical indicators suggest bearish momentum, as the hourly moving averages are consistently below the current price, with the 8 SMA at $4.51 and the 144 SMA at $4.58, showing declines between 2.42% and 4.50%. The 1-hour RSI stands at 37, indicating that JLP is nearing oversold territory, but a 7-day RSI of 41 suggests continued bearish sentiment in the short term.

From a longer-term perspective, JLP has experienced notable declines, with a 7-day price change of -6.90%, a 14-day change of -8.34%, and a 30-day change of -8.04%. The all-time high of $5.99 reached on October 6, 2025, remains significantly above the current price, indicating potential resistance and the need for a substantial reversal in sentiment to reach previous highs.

Given the bearish trend indicated by moving averages and RSI metrics, alongside a consistent decline over various time frames, JLP does not exhibit strong bullish signals at this time. Therefore, I assign a Sell rating for JLP, as the current price action and technical indicators suggest further downside potential before any significant recovery is likely.