PUMP has bounced above the swing lows after a 31% weekly decline.
The MVRV ratio at 0.28 suggests notable upside before the cycle top.
However, failure to break resistance may trigger a drop below $0.0038.
Pump.fun (PUMP) is trying to bounce back after a brutal correction. Over the past seven days, the PUMP crypto has lost 31% of its value.
However, at press time, the token appears to have found support that helps erase the losses. PUMP’s price hovers around $0.0041, with a slight increase in trading volume.
Here are the key levels to watch, and what could be next for the cryptocurrency.
The market value slid from $0.0073 to $0.0037 during this period.
Eventually, it appears to have found support as it bounced to $0.0041.
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CCN also observed that PUMP formed a bullish divergence in the same timeframe. This divergence occurred as the Chaikin Money Flow (CMF) rose above the zero signal line.
The rise in the CMF reading indicates rising buying pressure. Since it occurred amid the bearish setup, it implies that PUMP’s price might have ended its correction.
Furthermore, the cryptocurrency seems to be flirting with the 20-period Exponential Moving Average (EMA). While it is yet to rise above it, the current divergence indicates a break above it is likely.
If that happens, the PUMP crypto could rise toward the overhead resistance near $0.0055.
Market Value to Realized Value (MVRV) ratio supports the idea that PUMP still has upside potential.
According to Glassnode data, the current MVRV ratio sits at 0.28, well below the historical peak of 0.94.
In simple terms, this means that most holders are still sitting on relatively small unrealized profits, or even minor losses. This leaves plenty of room for gains before the market enters overheated territory.
Historically, when MVRV remains low while prices consolidate, it signals that selling pressure from profit-takers is limited, and the asset could be primed for another leg up.
If this trend continues, it could confirm that accumulation is underway, potentially setting the stage for the PUMP crypto to retest its previous highs.
PUMP Price Prediction: Bears Behind
The daily chart’s technical setup seems to be the same as the CMF, which has risen to 0.10. Besides that, the PUMP Holders Sentiment has failed to drop to negative territory.
Due to this position, PUMP’s price will likely breach the resistance at $0.0048 near the 0.382 Fib level. Once successful, the next target for the cryptocurrency could be $0.0056.
In a highly bullish market condition, it could rise to $0.0064. However, if bears resist the breakout, this prediction might not happen.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
