• Pump.fun price is down 12.5% in 24 hours, currently trading at $0.003755 with visible hourly wedge structure.
• RSI reads 29.38, indicating oversold territory, while MACD lines remain negative across the hourly timeframe.
• Chart reveals Accumulation-Manipulation-Distribution (PO3) phases within a descending wedge, hinting at imminent breakout conditions.

Pump.fun (PUMP) continued its decline, shedding 12.5% over the past 24 hours to reach $0.003755. This move pushed the asset toward a defined hourly support level at $0.003692. During this pullback, the price has remained confined within a narrowing descending wedge, as shown on the 1-hour chart. Notably, this wedge also includes phases identified as Accumulation and Manipulation.

Further examination of the trading activity shows that the price failed to break above the $0.004457 resistance. Instead, it retraced sharply, now hovering near wedge support. Price activity aligns with a possible Price Cycle Phase 3 (PO3) structure, marking a clear transition from sideways movement to sharper volatility.

Momentum Indicators Show Bearish Pressure

Technical indicators currently reflect suppressed momentum. The Relative Strength Index (RSI) on the 1-hour chart reads 29.38, well below the neutral 50 level. This places PUMP in oversold territory. A brief bounce to 36.17 occurred but lacked sustained strength.

Similarly, the Moving Average Convergence Divergence (MACD) histogram indicates negative values on the signal and MACD lines. The MACD is at -0.000155 with the signal at -0.000107 and the histogram at -0.000048. These figures reflect continued bearish momentum on lower timeframes. However, the oversold RSI and persistent wedge compression may contribute to potential volatility in the upcoming sessions.

PUMP Forms Wedge, Eyes 50% Breakout

On the 1-hour chart, PUMP exhibits distinct market phases: Accumulation, Manipulation, and Distribution. These phases appear within a descending wedge that began forming after the July 15 peak. Notably, the current price action reflects the Manipulation phase, typically found before a breakout or expansion.

Distribution zones remain overhead near $0.00445. Should price push above the wedge boundary, that region could act as a pivotal level. A measured move based on wedge amplitude suggests room for a +50% range expansion. However, the asset must first reclaim the upper boundary and overcome resistance.