• PUMP rose 3.26% to $0.002640 while volume dropped, showing weak interest behind the move.
• Analyst points to support near $0.0024 as price nears a bounce with potential to reach $0.0035.
• RSI at 47.26 reflects a neutral trend as traders watch for volume to confirm the market’s next direction.

Pump.fun (PUMP) is currently trading at $0.002640 with a growth of 3.26% over the last 24 hours. The trading volume decreased by 26.88% to $433.3 million. This conflict indicates a lack of reinforcement for the upturn. There is buying by traders, but not with great conviction. The fact seems to be motivated by a short-term interest, rather than by long-term demand.

Source: CoinMarketCap

In the last week, the coin has declined by a mere 0.06%. This cup and handle pattern indicates a possible consolidation that could take place in the prices. Unlike other growth stocks, PUMP maintained its value. This attracts the attention of conservative traders. Most of them are waiting to break up.

PUMP Consolidates Above Support with Eyes on $0.0035

Crypto analyst Kamran Asghar highlighted that PUMP is approaching an important line of support. He pointed out $0.0024 and $0.0025 range as critical. This value corresponds with Fibonacci retracements at the rate of 0.62 and 0.705. When the coin trades above this zone, it could bounce. An upside potential would be $0.0035 or higher.

Asghar also mentioned a bullish continuation formation on the 4-hour chart. This can be an indication of potential recovery, provided that there is an increase in the volume. He cautions that without volume, the pattern is doomed to fail. Heavy buying to find support is required. Investors are awaiting that signal.

Source: X

Also Read: XRP Reversal Incoming? Breakout Eyes Key Resistance at $3.65

RSI Stays Flat While MACD Lacks Strength

The Relative Strength Index stands at 47.26. There is no evident tendency in this reading. The market is close to equilibrium, exhibiting no extra influence of buyers or sellers. A break above 50 would be a good sign. Until now, RSI favours a neutral position.

The MACD does not provide much direction. The MACD line is at 0.000007. The signal line value is -0.000031. Histogram bars will be short and flat. This is an indicator of low movement. Any strong tendency is not in place yet.

Source: TradingView

Volume Drops as Open Interest Climbs Slightly

According to CoinGlass data, the trading volume decreased by 32.15% to $1.25 billion. Open interest, however, increased by 2.90%, to $385.75 million. The funding rate is 0.0081%. These figures indicate divergent moods. Traders in futures are still trading, but guardedly.

Source: CoinGlass

PUMP is currently trading around $0.0026. A fall to below $0.0025 would cause a sell-off, whereas maintaining it may cause a sharp recovery. The activity of the market will be determined by the next actions of the market and restart in the buyer’s interests. Traders are likely to be conservative and on the lookout until clearer signals appear.

Also Read: PUMP Breakout Sparks Rally, Can Bulls Push It Toward $0.0034?

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