This article presents an analysis of the current trading trends of the PUMP token, which is showing a negative price dynamic and key support levels.
PUMP Price Dynamics
The PUMP token (Pump.fun) is currently trading around $0.00277 with a trading volume of approximately $245.6 million. In the last 24 hours, the price has dropped by 1%, and by 4% over the past week. Technical analysis indicates that the price has fluctuated, facing resistance at $0.00320.
Indicators and Their Impact on Trends
On the daily chart, the Supertrend resistance line is positioned above the current price at $0.00399, indicating a continued negative trend. The Relative Strength Index (RSI) stands at 42.83, suggesting sellers are in control, but it has not yet reached oversold territory, leaving room for price fluctuations.
State of Liquidations and Trading Volume
Data from Coinglass shows long liquidations totaling $124.52K and short liquidations at $135.65K in recent sessions. The balance between liquidations indicates a market waiting for clear direction. Trading volume has decreased by 2% to $524.9 million, while open interest has increased by 0.4%, totaling $374.9 million. This suggests traders are still adding positions despite slowing participation.
The price of PUMP continues to show weakness, with a key support level at $0.00232, and the market needs to set a clear direction to determine further dynamics.
