What to know:
- The PUMP price remains under bearish pressure after failing to break above a descending triangle.
- Analysts are watching the $0.00135 support level, with a breakdown likely to trigger stronger selling pressure.
- CoinCodex predicts a 23% drop in Pump.fun (PUMP) price over the next five days, targeting $0.00108.
Pump.fun (PUMP) remains under bearish pressure after failing to break higher, with analysts warning of further downside for the PUMP price in the near term. While a short-term rebound is possible, weakening market sentiment and Bitcoin’s stagnant movement continue to fuel selling pressure and limit the token’s recovery prospects.
At the time of writing, PUMP is trading at $0.001397 with a 24-hour trading volume of $36.17 million and a market capitalization of $482.78 million. Despite the 1.09% gain over the last 24 hours, the PUMP price structure and market sentiment point to further losses ahead.
Source: CoinMarketCap
Also Read: PUMP Price Prediction: Recovery Structure Targets $0.0022 Resistance Level
PUMP Price Signals Further Downside After Rejection
According to the crypto analyst Alpha Crypto Signal, the PUMP is now struggling after its failure to break out near the upper border of an extended, descending triangle formation on the 4-hour time frame.
This has turned the momentum back in favor of the bears, with the bears looking for a move towards the support level of the formation near $0.00135, which presents a short-term bearish target for the PUMP.
Source: Alpha Crypto Signal’s X Post
Despite all the negative expectations, some analysts note that there is a possibility of a bounce from the support level at $0.00135, which will temporarily push the PUMP price to $0.0015.
However, overall, the pattern looks quite vulnerable, and the breakdown of the price level below the base of the triangle will mean much stronger downward movement.
PUMP Price is Expected to Fall 23% in Next 5 Days
According to CoinCodex, bears have remained positive on the PUMP price, predicting that it will go down to $0.001080. This projection shows a fall of 23.19% from the current value of the token, indicating growing risks from below. The market sentiment is clearly bearish, leaving no room for any kind of recovery.
Source: Coincodex
The expected decline in the PUMP price is attributed to the general weakness in the crypto industry. The sideways movement of Bitcoin over the past period at the prevailing price levels has taken the momentum out of the coin and made investors uncertain.
As bearish pressure intensifies, altcoins such as PUMP are facing increased selling activity, reinforcing expectations of further losses.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: PUMP Price Accumulation Hints at Potential Breakout Toward $0.0022
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