Pump.fun (PUMP) was priced at $0.005373 with a 24-hour trading volume of $483.2 million. The token has recorded a 5% decline in the past day and is down 8% over the last week. The recent move above a descending trendline marks a change in the short-term pattern after days of downward pressure.
PUMP continues to trade within a horizontal band, with support around $0.0050 and resistance near $0.0060. The move above the short-term trendline suggests that sellers may be slowing down, but buyers have not yet driven the price beyond the channel's upper limit.
Key Zones to Monitor
The area between $0.0053 and $0.0054 now acts as a key middle zone. Holding above this range could lead to a retest of the higher band around $0.0059 to $0.0060. A break above this level would open the way for a stronger move upward.
If the price slips below $0.0050, the earlier breakout loses strength. This would shift attention back to lower levels, and sellers could regain control.
As stated by Alpha Crypto Signal,
“losing 0.0050 would invalidate this setup and shift momentum back toward the bears.”
Technical Signals and Indicators
After a sharp move up on September 28, the chart now shows signs of a pause. The Relative Strength Index (RSI) has come down from high levels and is now stable, suggesting the early momentum is fading. The MACD has turned lower, and the MACD line is below the signal line.
This is often read as a sign of slowing upward momentum. GEMXBT noted, “the MACD is showing bearish divergence,” adding to caution among short-term traders. Moving averages are also flattening, which fits with the sideways price movement seen since the peak.
Volume and Trader Interest
Volume spiked during the breakout, but has since dropped back. For any move above $0.0060 to hold, stronger volume will likely be needed. Without it, the price may continue moving inside the current range.
On social media, PUMP remains active in trader discussions. According to GEMXBT, it was the most mentioned token in the last hour. However, the current chart shows mixed signals. The market is watching closely for either a clear breakout or a break below the lower support.