Love the concept and the design of the character. Hella metal-boxing vibes. I'm digging it.
So as far as gameplay is concerned It could definitely use some work. The power system feels really taxing when you are trying to recover or play conservatively. Turtling felt really bad as even if the guy wasnt hitting me I'm not regening as max speed when holding guard, which I kind of always wanted to since they just kind of jab you most of the time and letting them jab you or trading jabs just makes you lose hp too fast. I just felt like I was trying to regen my stamina most of the time rather than fighting and I never could get . I'd almost say you might want to scrap it altogether as it just kind of punishes the player more than encourage strategic play.
I also felt like the game could use some animation canceling especially when I would want to dodge after leaving guard or jabbing. There should not be recovery on leaving guarding just straight up imo. The recovery time on the animations feels really long; however, the recovery on smash attacks is too short. As I felt like if I dodged a smash I'm only really rewarded with dodging it and I feel like I should be able to get a free hit in as well.
A percentage hp recovery between rounds would be nice as well.
This game would work better with a few more buttons so I personally feel like you should keep working on the game! A cool idea would be if there were high attacks that you could duck and a cross counter bonus damage system if you hit them while dodging to reward skillful play.
I like the little riff, it added to the grungy feel of the world.
I'd encourage you to explore similar released games such as Punch-out! or brawlers to get a better understanding of improving the game feel as this has great potential with such solid visual assets.
So TL;DR
Player Character needs a buff and the enemies a bit of a nerf. Great visuals (tbh might be the best for the jam that I have seen so far) and concept. Looking forward to updates if they come!
Cheers!