PUMP Token Faces Potential Further Decline Amid Whale Sell-Off and Key Support Test
2025-07-17 08:48:44
Main Idea
PUMP token faces potential further decline due to whale sell-offs and a break below the key support level of $0.005294, with technical indicators signaling heightened downside risk.
Key Points
1. PUMP token dropped 23% after reaching a peak of $0.006899, with top wallets cashing out over $17 million in profits.
2. The top 10 holders have significantly reduced their holdings, with Wallet CxSZ84Ui alone realizing $1.79 million in gains.
3. Technical analysis shows a bearish Supertrend indicator, increasing the risk of further declines if the $0.005294 support level fails.
4. A break below $0.005294 could lead to deeper declines, while a rebound above $0.00628 may stabilize the market.
5. Investors are advised to monitor key support and resistance levels for signs of market stabilization or renewed momentum.
Description
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