The broader cryptocurrency market is showing signs of a steady rebound following a period of significant volatility last week. This recovery has seen Ethereum (ETH) move back above the $3,000 mark after dipping to a low of $2,622. This positive market sentiment is also contributing to the renewed momentum of several altcoins, including Pump.fun (PUMP).
Pump.fun (PUMP) has experienced a price increase of over 5% today. Beyond the immediate price movement, the asset's chart is displaying a notable fractal pattern, which could be indicative of an impending larger price surge.
PUMP Mirrors KAS’s Breakout Pattern
A comparative analysis of Pump.fun (PUMP) and Kaspa (KAS) on the daily timeframe reveals striking similarities in their chart structures. This resemblance suggests that a powerful fractal repetition might be occurring.
In the case of Kaspa (KAS), the price consolidated within a descending channel for several weeks before experiencing a strong recovery from the channel's lower boundary. This recovery was subsequently followed by a successful retest of the 50-day moving average. The price then broke out decisively above the descending channel. This sequence of events preceded a rapid 28% rally, which materialized almost immediately after the breakout was confirmed.
Pump.fun (PUMP) is currently exhibiting a remarkably similar price action.
The price has found support at the lower boundary of its own descending channel and is now approaching a critical resistance level: the 50-day moving average, which is situated at $0.003664. This level served as a significant trigger point in the Kaspa (KAS) fractal pattern, and Pump.fun (PUMP) is now directly moving towards it.
What’s Next for PUMP?
If Pump.fun (PUMP) continues to follow the pattern observed in Kaspa (KAS), a successful reclaim of the 50-day moving average, followed by a breakout above the descending channel, could serve as the catalyst for a significant upward price movement.
The projected breakout target on the chart indicates a potential price of $0.005613. This represents an increase of approximately 87% from the current trading price.
The chart structure is clear, market momentum is improving, and the fractal alignment presents a compelling case. While fractal patterns do not guarantee identical outcomes, they frequently offer valuable insights into potential future price movements. Currently, the chart for Pump.fun (PUMP) suggests the early stages of a bullish shift.