Pump.fun token – Another 20% surge to follow its 30% rally? Assessing…
Main Idea
The Pump.fun (PUMP) token experienced significant volatility, with a recent breakout suggesting potential for a further 20% rally, supported by bullish market indicators and broader cryptocurrency trends.
Key Points
1. PUMP token saw a 66.58% drawdown after reaching $0.00689 on July 15, dropping to $0.0023, but recently broke past the $0.003 resistance level.
2. Bitcoin (BTC) and Ethereum (ETH) showed bullish performance, aiding overall market sentiment and potentially supporting PUMP's rally.
3. Technical indicators like OBV and RSI suggest strong bullish momentum for PUMP, with potential price targets at $0.0036 and $0.00378.
4. A retest of the $0.0029-$0.003 demand zone could present a buying opportunity for PUMP.
5. The article highlights PUMP's recent 30% surge and breakout from a week-long range between $0.00245 and $0.003.
Description
The confluence of the fair value gap and resistance just beyond $0.0036 could attract PUMP prices higher.
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