- PUMP jumps 6.62% to $0.004704 as trading volume surges 87.71% to $415.1M, signaling strong bullish momentum.
- Weekly gains hit 14.99%, showing growing trader confidence as PUMP maintains steady upward momentum.
- Analysts say a close above key resistance could send PUMP toward $0.0076, confirming bullish continuation.
Pump.fun (PUMP) is currently trading at $0.004704 with a 6.62% increase in the last 24 hours. The trading volume of the token was highly bullish, with volume increasing 87.71% and currently standing at $415.1 million as the market returned to a level of increased participation and investor interest.
Source: CoinMarketCap
The PUMP price has risen by 14.99% within the last week, which continues its upward trend. The continuous growth shows that more traders are becoming confident with the token as it gains momentum from buyers and boosts its short-term market prospects.
Crypto analyst Altcoin Ardi highlighted that the first key resistance of PUMP has been breached in two weeks. This breakout implies a temporary reversal of market dominance between sellers and buyers. The price is currently encountering resistance around the 38.2% Fibonacci retracement of the decline between $0.0076 and $0.0032. The area serves as a crossroads in the following price direction.
As long as it closes above this zone, its chances of rising further are high. He said that a breakout over the second resistance would mark the way to $0.0076, which would confirm the overall bearish structure. Ardi further elaborated that it is important to hold above the recently rolled-over support zone to continue with a bullish trend.
Source: X
The current support is in the range of $0.0041, which is critical to maintain. The resistance is indicated at the levels of $0.0049 and $0.0076. Any increase above $0.0049 would be an indicator of the strength of the buyers, and any decline below $0.0041 could be an invitation for fresh selling.
Also Read: XRP Price Prediction: Can The $2.6 Breakout Spark New Rally?
PUMP Reclaims Key Averages, Showing Market Recovery
Moreover, another analyst, Gandalf Crypto, mentioned that the market structure of PUMP reflects an indication of recovery. Buyers established an improved momentum by defending the lows in the range and establishing a higher low. The token has regained the 9MA, 21MA, and 50MA, which coincides with the macro Value Area High (VAH). The technical strength and recovery from previous falls are evident in this alignment.
Source: X
The analyst further added that On-Balance Volume (OBV) has returned to its moving average, indicating that market participants have accumulated. He mentioned that staying on the price above the breakout area would justify the setup to make more gains. In case of a success, the following level is $0.0053-$0.0057, where another test of resistance is expected.
Trading Volume and Open Interest Rise in PUMP
According to CoinGlass data, the trading volume grew by 77.80% to $982.13 million. However, open interest increased by 4.59% to $425.38 million. The OI-Weighted Funding rate is 0.0059%, with a slight long bias.
Source: CoinGlass
The momentum is building up, and PUMP is already starting to recover. A bullish continuation followed by a positive daily close can be strengthened and may create an opportunity for a retest of the level at $0.0076.
Also Read: Ethereum (ETH) Price Targets $4850 as Institutions Accumulate $23.5 Billion
