- PUMP faces strong resistance at $0.00448 as RSI and MACD signal bearish pressure
- Liquidations top $3.9M with $2.9M from longs, highlighting aggressive bullish bets
- Price risks deeper fall if $0.00413 breaks, eyes shift to $0.00400 psychological support
PUMP, the native token of Pump.fun, is undergoing a short-term correction as selling pressure intensifies. After failing to hold recent gains above $0.00446, the token slipped by 5.83%, settling near $0.004344. The decline triggered substantial liquidations and revealed cracks in bullish momentum.
Despite strong trading activity, indicators now suggest a cautious outlook in the near term. Besides, technical weakness and market behavior show that the asset may remain under pressure if key support zones fail.
The price action showed early strength as PUMP touched an intraday high of $0.004463. However, it quickly reversed and hit a low near $0.00413.
This decline highlighted a bearish rejection at the resistance zone and pointed to profit-taking by short-term traders. Additionally, the $0.00413 support has become a key level, with a breach possibly sending the token toward the $0.00400 psychological mark.
Resistance Builds as Indicators Point to Bearish Momentum
The technical chart reveals a narrow resistance band between $0.00446 and $0.00448. This zone marks the recent top and remains a major hurdle for recovery.
Any rebound attempt is likely to face headwinds here. On the downside, support sits at $0.00413. A decisive drop below this level could deepen the downtrend toward $0.00400.
Besides price levels, indicators suggest rising bearish momentum. The MACD histogram currently stands at -0.000409, showing continued negative divergence. The MACD line remains below the signal line, reinforcing a short-term bearish bias. Consequently, momentum appears to favor sellers over buyers at this stage.
Moreover, the Relative Strength Index (RSI) has declined to the 42.79–44.51 range. While not oversold, this range suggests weakened buying strength. Hence, there remains room for further price correction or sideways consolidation before a clear reversal occurs.
Heavy Liquidations Add to Short-Term Downside Risks
In the last 24 hours, PUMP witnessed a total of $3.9 million in liquidations, all from perpetual contracts. Significantly, long positions accounted for $2.9 million, highlighting aggressive bullish bets that turned against traders. Short liquidations totaled $984.6k, indicating volatility on both ends.
A breakdown of the data shows most liquidations occurred on Binance. Smaller volumes were recorded on Bybit, OKX, and Huobi. Additionally, the token’s trading volume surged to $536.42 million, showing active participation despite the decline. However, the market cap slipped by 5.83% to $1.53 billion, reflecting reduced confidence.
