• Pump.fun (PUMP) eyes the $0.005 resistance zone, with a breakout potentially triggering further gains.
• Technicals show a bullish MACD crossover and RSI near 54.5, signaling mild upward momentum.
• The community shows bullish sentiment, highlighting widespread optimism among traders and holders.

Pump.fun (PUMP) continues its impressive upward trajectory. Over the past 24 hours, the token has climbed nearly 4.63%, but it is down by 11.33% over the last week. This steady rally reflects increasing investor confidence and growing momentum within the community.

At the time of writing, PUMP trades at $0.003918, with a 24-hour trading volume of $347.27 million, reflecting a 79.17% surge from the previous day. Moreover, the token’s market capitalization stands firm at $924.67 million, underscoring sustained interest and bullish sentiment surrounding the project.

Source: CoinMarketCap

PUMP Investor Confidence Soars with 74% Bullish Votes

According to the data from CoinMarketCap, the community sentiment reflects strong optimism and growing confidence among investors and traders. Out of a total of 46K participants, an impressive 74% expressed a bullish outlook. This clearly indicates that most people expect a steady rise and positive market momentum in the near future.

Source: CoinMarketCap

On the other hand, 26% of the voters hold a bearish sentiment, showing caution and concern about possible declines. These individuals anticipate a potential slowdown or downturn in the market’s performance. Overall, the collective opinion remains decisively bullish, highlighting widespread market confidence.

Also Read: PUMP Price Prediction: Can It Break $0.0056 Resistance and Surge Higher?

PUMP Flashes Bullish Divergence and Eyes $0.005

Moreover, the crypto analyst, Chiefrat, highlighted that a 4-hour bull divergence has emerged on the token, triggering a short-term jump in prices and a regain in hope among the trading community. The divergent indicator shows that bearish pressure is fading, as the RSI starts the formation of higher lows, even with the recent declines in the coin. The setup indicates that bull pressure is building for the first time in weeks.

Source: X

Market observers are focusing their attention at the 0.005 level, an expressional area that can set the tone for its next directional move. A clean reclaim and hold above the price would confirm a change in sentiment in the market and pave the way for a bigger comeback.

PUMP Technical Indicators Show Potential Recovery

The PUMP price chart registered a soft bounce back following a consistent downtrend. The price remains around the center Bollinger Band ($0.00366), while resistance stands at $0.00408 with support around $0.00324. The narrowing Bollinger Bands show reduced volatility, typically a presage to a breakout in the very near future.

Source: TradingView

The MACD exhibits a bull cross, as the MACD line is modestly above the signal line, indicating prospective upward movement. The RSI (14) is around 54.5, indicating neutral to mildly bullish sentiment. In general, staying above the middle band can trigger short-term profits, while rejection around the upper band can trigger a correction.

Also Read: Pump.fun (PUMP) Rallies as Major Buybacks Push Target to $0.0075