Pump.fun (PUMP) price remains in a consolidation phase after recent selling pressure, with its bearish pennant pattern placing the next price move in focus. While downside risks remain for the PUMP price if support fails, improving momentum indicators suggest buyers are gradually regaining strength, keeping the possibility of a bullish reversal and renewed upward movement alive.
At the time of writing, PUMP is trading at $0.001677, with a 24-hour trading volume of $85.24 million and a market capitalization of $671.96 million. Despite a 4.01% decline over the past 24 hours, the PUMP price structure points to a potential bullish reversal.
Source: CoinMarketCap
Also Read: PUMP Price Under Pressure After Shocking 96% Pump.fun Wallet Loss Report
PUMP Price Consolidates Inside Bearish Pennant
However, the crypto analyst Crypto With Gopal pointed out that the PUMP price on the 15-minute chart is consolidating within a bearish pennant after a sharp decline from the $0.00177 region.
The pattern reflects temporary market indecision following strong selling pressure. The PUMP price is currently trading near $0.001637, while tightening price action signals an imminent breakout.
The upper pennant trendline around $0.00165-$0.00166 acts as immediate resistance, while support sits near $0.00161-$0.00162.
A confirmed breakdown below support could accelerate bearish momentum toward the projected $0.00145 target. Increasing selling volume would strengthen the continuation pattern and confirm sellers’ dominance.
Source: Crypto With Gopal’s X Post
Despite the bearish setup, there is room for the buyers to set up the trend for the PUMP price. Breaking out decisively from the pennant and trading higher than $0.00170 will work against the bearish expectation. It will attract more buyers, putting the previous resistance level of $0.00175 to the test.
RSI And MACD Continue Supporting Bullish Momentum
According to TradingView, the RSI currently stands at 59.37, while the moving average of RSI is at 52.53. The RSI has been above the signal line and is also above the neutral level of 50, which shows increasing bullish strength.
Although the RSI is close to an overbought situation, the current levels show that buyers have not yet grown weary.
Source: TradingView
The MACD line is found to be trading at 0.00003, which is above the signal line at 0.00001. The positive bars of the histogram continue to move up above the zero line, indicating bullish momentum. The recent bullish crossover holds ground.
Despite the bullish price predictions and improving momentum indicators, the PUMP price is still moving in a downward direction. This move is affected by the general trend in the crypto market as the BTC price is moving downward.
Also Read: PUMP Price Forecast: Inverse H&S Pattern Signals $0.0017 Breakout
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
