Date: Tue, Aug 19, 2025 | 06:04 AM GMT
The cryptocurrency market is under selling pressure as Ethereum (ETH) pulls back to $4,225 from its recent high of $4,780. This weakness has spilled over into major altcoins, with Pump Fun (PUMP) taking a notable hit.
Currently, PUMP has dropped 9% in the last 24 hours and is down 20% on the week. Its latest move — a sharp breakdown from a key chart structure — is raising concerns of deeper downside ahead.
Ascending Broadening Wedge Breakdown
On the 4-hour chart, PUMP has confirmed a breakdown from a classic ascending broadening wedge, a pattern often associated with bearish continuation moves.
After a series of higher highs and higher lows within the wedge, PUMP broke decisively below both the wedge support and the 50-period moving average (MA) around the $0.003559 level. This technical breach triggered heavy selling, dragging the token down to its current price near $0.002890.
What’s Next for PUMP?
Based on the wedge’s measured move, the next potential reversal zone lies near $0.001638 — which would represent an additional 43% drop from current levels. That said, there is an interim support zone around $0.002262, where buyers could attempt to step in before any further decline.
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