- •$PUMP trades near $0.005405, reflecting fading buyer momentum and short-term bearish sentiment across altcoins.
- •$ENA remains under selling pressure despite strong DeFi traction and high TVL relative to market capitalization.
- •Market turnover remains high, but equilibrium between buyers and sellers signals cautious short-term positioning.
Altcoin Sherpa’s latest market outlook points toward short-term weakness for $PUMP and $ENA as both tokens display declining momentum, shrinking volume, and structural fatigue following earlier rallies. Current market behavior suggests cautious sentiment amid steady yet fragile liquidity conditions.
Altcoin Sherpa has voiced a cautious stance on recent market leaders, $PUMP and $ENA, suggesting both are entering a short-term correction phase. His latest commentary on X indicates a shift toward risk management as speculative altcoins lose momentum. The accompanying charts depict declining strength, subdued volume, and growing signs of market exhaustion following prior rallies.
The chart of $PUMP/USDT shows that there was a definite corrective period following a previous upward trend. The price trend has been gradually decreasing since the $0.786 Fibonacci retracement and currently it is approaching the $0.618 mark‑ a very crucial area where the bulls normally seek to regain their hold. Instead of rebound strength, the structure reveals a rounded top pattern, signaling distribution as early holders offload positions. A projected yellow circle below the current range indicates potential continuation toward the $0.786 retracement area, aligning with Sherpa’s bearish short‑term outlook.
Trading data supports this interpretation. With $345.9 million in 24‑hour volume, representing roughly 18 % of market capitalization, $PUMP remains actively traded despite its 1.8 % decline to $0.005405. The market shows alternating periods of brief rebounds and sharp pullbacks within a narrow $0.005294–$0.005645 range. This dynamic reflects liquidity rotation rather than new accumulation, as participants adjust exposure during declining momentum.
Technical Weakness Dominates Short‑Term Market Structure
The visual analysis shared by Altcoin Sherpa underscores the fading participation evident in declining volume trends. Earlier rallies were supported by strong inflows, yet recent sessions show thinning liquidity and weakening conviction. The gradual rounding formation across recent highs suggests a distribution phase typical of profit‑taking cycles after extended bullish runs.
The support areas near the $0.618 retracement are still a pressure area, and no indication of new purchasing strength is evident. Failure to regain greater retracement levels supports the possibility of further downwards movement, which may reach the $0.786 area. Nevertheless, structural patterns are corrective as opposed to collapsing suggesting an orderly rebalancing process as opposed to selling in panic.
Sherpa’s cautious perspective reflects broader market sentiment. As smaller‑cap tokens cool off, larger assets and meme categories show relative resilience but fail to trigger broad‑based risk appetite. This environment promotes capital preservation as traders weigh liquidity risks against volatile intraday swings.
$ENA Displays Steady Liquidity but Diminishing Momentum
The $ENA data reflects the risk aversion trend that is observed in $PUMP, and the token is being traded around the $0.5495 mark, which is 1.9 % lower in 24 hours. Price changes ranging between $0.5393 and $0.5694 illustrate quantified volatility in the case of stable liquidity. The programmed intraday cycles of rebound and pullbacks are indicative of a market in the balance.
Its trading volume of $335.87 million, or approximately 9 % of its $3.93 billion market capitalization, suggests that it has sustained turnover. In spite of this action, the lack of directional progress shows equilibrium among buyers and sellers. Circulating supply at 7.15 billion out of a total 15 billion suggests moderate inflation potential, with a fully diluted valuation near $8.25 billion pricing in cautious long‑term optimism.
ENA’s ecosystem exhibits robust fundamentals with a Total Value Locked (TVL) of $14.68 billion—exceeding its market cap and signaling strong DeFi integration. But the strength has not yet been used to bring back bullish pressure. The technical levels give support of around $0.54 and resistance of $0.57 which are important levels of possible breakout confirmation. Until either party establishes a lead, price behavior is range bound in a neutral but weak formation.