Pump.fun (PUMP) breaks out of bearish trends with a 35% rally | Credit: Veronica Cestari
Share
Key Takeaways
PUMP has broken out of a prolonged descending trend and trades within an ascending channel.
Technical indicators confirm the reversal, with the Bull Bear Power (BBP) turning positive.
PUMP could test resistance at $0.040, though failure to sustain demand risks a pullback
The Pump.fun (PUMP) token launch may have been rocky, but over the past 30 days, the PUMP token price has surged by 35%.
This development may surprise some market observers who have written off cryptocurrency. However, based on the current situation, PUMP might not be ready to stop the rebound.
Here is why and what lies ahead for the PUMP token price.
Pump.fun Bounces Back
At press time, PUMP trades at $0.038 after breaking out of a descending trend. That downtrend had previously kept the token under sustained selling pressure, with lower highs and lower lows defining the market structure.
The breakout from this bearish setup signals that sellers may have lost control. Today, the 4-hour chart shows PUMP trading within an ascending channel.
Get These Top Crypto Casino Offers Now!
Sponsored
Disclosure
We sometimes use affiliate links in our content, when clicking on those we might receive a commission at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.
This pattern forms when price consistently creates higher highs and higher lows, pointing to a gradual but steady recovery. As long as PUMP stays within this channel, the bias leans bullish, with buyers steadily driving upward momentum.
Adding strength to this reversal, the Bull Bear Power (BBP) has flipped into positive territory, showing that buyers are regaining dominance after weeks of pressure from the bears. If this trend continues, the token PUMP could be ready to test the upper level resistance at $0.0045.
In addition, the green line of the Supertrend indicator has shifted below the price, reinforcing the bullish momentum. This positioning typically acts as a support zone, signaling that the prevailing trend favors buyers.
If PUMP’s price holds above this line, the uptrend within the ascending channel will likely remain intact.
PUMP Price Prediction: Crash Behind
Looking at short-term targets on the daily chart, PUMP’s price has broken out above the upper trendline of a falling wedge, a pattern that signals the start of a bullish reversal.
This breakout marks a shift in momentum, suggesting that sellers are losing their grip.
Adding to this outlook, the MACD has formed a bullish crossover, with the MACD line rising above the signal line. This technical setup typically points to strengthening buying pressure and increases the probability of further upside in the near term.
Should this trend remain the same, the PUMP token price might breach the resistance at $0.0040. Once that happens, the next target for the PUMP price could be around $0.051 near the 0.618 golden ratio.
However, if selling pressure increases, this prediction might not happen. In that scenario, PUMP’s price could experience a decline to $0.0023.
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.
