Key Takeaways
- PUMP is forming a double bottom pattern on the daily chart near $0.001680.
- Buyers have defended the $0.001680 support zone twice, signaling weakening selling pressure.
- The 50-day moving average at $0.002346 is the key level for bullish confirmation.
- A breakout above the $0.003357 neckline could validate the reversal setup.
- A breakdown below $0.001680 would invalidate the bullish structure.
Pump.fun’s $PUMP token has posted over a 3% gain over the past 24 hours, bucking recent volatility across the memecoin narrative.
The move comes shortly after blockchain investigator ZachXBT published a high-profile exposé on alleged insider trading at Axiom Exchange. While Pump.fun briefly appeared in early speculation circles and prediction markets, the investigation ultimately focused elsewhere — leaving PUMP free from direct allegations.
With that uncertainty fading, attention is shifting back to the chart — and technically, things are starting to look constructive.
Technical Pattern Hint at Upside Momentum
On the daily timeframe, PUMP appears to be forming a double bottom pattern, a classic bullish reversal structure that often develops after extended downtrends.
Here’s how the setup is unfolding:
- The first bottom formed as price dropped into the $0.001680 support zone, where buyers stepped in aggressively.
- That rebound carried PUMP toward the neckline resistance near $0.003357, where sellers rejected the rally.
- Price then rolled over and returned to the same $0.001680 region.
- Once again, buyers defended the level — forming the second bottom.
This repeated defense of $0.001680 is technically significant. It signals that selling pressure is weakening while demand continues to build at lower levels.
PUMP is currently trading near $0.0019, showing early signs of stabilization after the retest.
What’s Next for PUMP?
For this bullish structure to gain real credibility, PUMP needs to reclaim the 50-day moving average near $0.002346. A sustained move above this level would signal a clear shift in short-term momentum and significantly improve the chances of a recovery rally.
If buyers manage to drive price back toward the $0.003357 neckline zone, that area will act as the next major test. A decisive breakout above this resistance — ideally followed by a successful retest to confirm it as new support — would validate the double bottom pattern and potentially pave the way for a stronger upside move in the coming weeks.
On the downside, the $0.001680 support zone remains the most critical level to monitor. A breakdown below this area would invalidate the bullish setup and likely expose PUMP to another leg lower or an extended period of consolidation.
Disclaimer: The views and analysis presented in this article are for informational purposes only and reflect the author’s perspective, not financial advice. Technical patterns and indicators discussed are subject to market volatility and may or may not yield the anticipated results. Investors are advised to exercise caution, conduct independent research, and make decisions aligned with their individual risk tolerance.
About Author: Nilesh Hembade is the Founder and Lead Author of Coinsprobe, with over 5 years of experience in the cryptocurrency and blockchain industry. Since launching Coinsprobe in 2023, he has been providing daily, research-driven insights through in-depth market analysis, on-chain data, and technical research.
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