Pump.fun's [PUMP] token increased by 7.9% within 24 hours, with trading volume rising by 9.61%, breaking through a two-week-long trendline resistance. Nevertheless, its long-term structure remains bearish, fluctuating between $0.0017 and $0.0034. Currently, PUMP's trading range is between $0.00170 and $0.00197, facing resistance at the higher end. Technical indicators like RSI are currently at 44, showing no clear trend. Traders are advised to stay on the sidelines, viewing the price fluctuations between $0.0022 and $0.0024 as potential liquidity searches, but these fluctuations are likely to reverse quickly. Sustained spot buying pressure is a necessary condition for PUMP to make a genuine breakout.
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Pump.fun's [PUMP] token increased by 7.9% within 24 hours, with trading volume rising by 9.61%, breaking through a two-week-long trendline resistance. Nevertheless, its long-term structure remains bearish, fluctuating between $0.0017 and $0.0034. Currently, PUMP's trading range is between $0.00170 and $0.00197, facing resistance at the higher end. Technical indicators like RSI are currently at 44, showing no clear trend. Traders are advised to stay on the sidelines, viewing the price fluctuations between $0.0022 and $0.0024 as potential liquidity searches, but these fluctuations are likely to reverse quickly. Sustained spot buying pressure is a necessary condition for PUMP to make a genuine breakout.