- PUFFER drops 9.59% before Binance airdrop despite gaining 35% in the past week
- Airdrop targets Alpha users, but selling pressure may follow the surprise token release
- MACD and RSI indicators suggest early bullish momentum with room for further gains
Puffer (PUFFER), the Ethereum-based re-staking protocol, is experiencing a price cooldown just ahead of a major Binance Alpha airdrop event. After rallying nearly 35% over the past week, the token fell by 9.59% in the last 24 hours. Its price as of press time stands at $0.2579, backed by a strong trading volume of $60.2 million.
Despite the pullback, market participants remain focused on the upcoming token distribution, which could drive renewed volatility and price action in the near term. With a circulating supply of 400 million PUFFER, the project currently holds a market cap of $102.6 million.
Binance Alpha Airdrop Boosts Token Exposure
Binance has added PUFFER to its Alpha platform with a unique token reward structure. Eligible users holding at least 186 Alpha Points are set to receive 362 PUFFER tokens.
Additionally, users with 147 to 185 points, whose Binance UID ends in the number 5, also received 362 tokens in a surprise drop. This initiative significantly increases token distribution while driving on-chain engagement ahead of further listings and upgrades. Besides, the airdrop may introduce temporary price pressure as recipients could choose to take early profits.
Support Zones and Price Outlook for May 14
The PUFFER chart suggests that the token has recently bounced from lower levels, showing early signs of short-term strength. However, the broader trend remains bearish following a steep pullback from its highs.
Key support lies at $0.24, which has held during recent declines. If that level breaks, the next downside targets are $0.20 and the $0.12–$0.15 range. These zones have previously offered strong buying interest.
Conversely, PUFFER faces stiff resistance at $0.30. It also struggles to hold gains near $0.38–$0.40. A larger rally may only emerge if it convincingly reclaims the $0.60–$0.70 range, which capped past uptrends.
Momentum Indicators Show Early Recovery Signs
MACD indicators suggest improving sentiment, with the MACD line moving above the signal line. This signals an early-stage bullish momentum. However, the crossover remains shallow, meaning the trend is not yet strong.
RSI currently sits at 61.36, placing it in slightly bullish territory without reaching overbought conditions. This implies there is still room for upward movement.
