Pumpfun (PUMP) is currently showing signs of a potential bullish reversal as it forms a Gartley harmonic pattern. This technical formation has caught the attention of traders, especially after the token's recent price drop, and according to the results published in the material, it could indicate a favorable buying opportunity.
PUMP Token Analysis
Currently trading at approximately $0.00054, PUMP is nearing the completion of the BC leg of the Gartley pattern. Analysts suggest that the token may dip slightly further to around $0.0005148, which coincides with the 0.886 Fibonacci retracement level, a common area for price reversals. Should the price rebound from this level, it could signal the beginning of a new bullish phase, with potential targets reaching up to $0.0008143, representing a 50% increase from current levels.
Investment Caution
However, experts caution traders to wait for definitive signs of stabilization or reversal before committing to any investments.
As the cryptocurrency market prepares for a transformative bull run, analysts are highlighting a shift in investor behavior and project dynamics. For more insights, see the full report on this anticipated market change here.
