Is There Any Hope Left for PUMP? | Credit: Veronica Cestari
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Key Takeaways
Pump.fun (PUMP) fell by 67% shortly after launch.
PUMP recently broke out from a resistance.
Can PUMP finally begin a bullish trend reversal?
Pump.fun’s (PUMP) price has taken a beating since launch, plunging 67% and dragging investor sentiment down with it.
However, the tide may be starting to turn. After a long slump, PUMP recently broke through a key resistance level, signaling early signs of a potential recovery.
That said, the momentum is still fragile, and the token has more work to do before confirming a full bullish reversal.
PUMP Price Analysis
Since its launch, PUMP has seen a steep decline, completing a clear five-wave downward move that bottomed out at a new all-time low of $0.0022.
But on July 29, the token showed its first real sign of life. It bounced off the low and broke above a descending resistance trend line, later validating that breakout as support (see green icon).
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With that breakout confirmed, the correction appears to be over, setting the stage for a potential relief rally targeting the $0.0040–$0.0046 range.
It’s still too early to tell if this rebound marks the start of a full five-wave uptrend or just a temporary A-B-C correction. Either way, the price looks set to test higher levels in the short term.
Momentum indicators support this optimistic PUMP price prediction. The Relative Strength Index (RSI) has generated a bullish divergence (orange) and is above 50.
So, PUMP will likely increase toward the proposed target.
Pump.fun Sentiment
Sentiment around PUMP remains overwhelmingly bearish following its steep decline since launch.
Adding to the skepticism is the fact that PUMP has now dropped below its presale price of $0.004, raising serious questions about the token’s launch performance.
Still, there are a few developments providing a glimmer of hope.
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.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
