PUMP Price Tests Critical Floor After $5.9 Million in Bullish Bets Wiped Out
Main Idea
The Pump.fun (PUMP) token experienced a sharp 15% price drop, entering an oversold zone with potential for a technical rebound, while facing significant resistance levels and high liquidation volumes.
Key Points
1. PUMP's price dropped 15% in 24 hours, reaching a low of $0.002435, with a mild recovery to $0.002690.
2. $7.3 million in liquidations occurred, with $5.9 million from long positions, primarily on Binance, Bybit, OKX, Huobi, and BitMEX.
3. Key support levels are at $0.002435 and $0.002500, while resistance levels are at $0.002800 and $0.003200.
4. The Relative Strength Index (RSI) is at 28.51, indicating an oversold condition and potential for a rebound.
5. The Moving Average Convergence Divergence (MACD) remains bearish, suggesting continued downward pressure.
Description
PUMP enters oversold zone with RSI at 28.51, signaling potential technical rebound $7.3M in liquidations highlight extreme volatility and failed long-position bets Resistance at $0.002800 blocks upside as PUMP struggles to regain bullish momentum The Pump.fun (PUMP) token witnessed a sharp 15% downturn over the last 24 hours as intensifying selling pressure and millions in liquidations pushed the asset to a critical technical juncture. After falling to a daily low of $0.002435, the token is atte...
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