PUMP token is trading at $0.002298, down 1.09% in the last 24 hours. The token holds a market capitalization near $913.11 million and recorded approximately $83.88 million in 24-hour trading volume. PUMP is consolidating above key support at the middle Bollinger Band of $0.00208, with the upper band at $0.00246 acting as near-term resistance. Analyst Ali Martinez has stated that a continuation of the current trend could turn the downtrend into a positive retest of the previous breakout region, with $0.0046 highlighted as a possible upside target. The MACD remains above the signal line, supporting the bullish technical formation.
PUMP is trading at $0.002298, down 1.09% over the last 24 hours. The token has recorded approximately $83.88 million in 24-hour trading volume, with a market capitalization near $913.11 million.
The recent price performance caught the attention of crypto analyst Ali Martinez. As stated in his post dated August 8, a continuation of the current trend would see the downturn turn into a positive retest of the previous breakout region.
From the analysis, the positive retest could pave the way for another upward move. Martinez highlighted $0.0046 as a possible upside target.
Currently, PUMP is trading above the central Bollinger Band of $0.00208. The top Bollinger Band is at $0.00246, while the bottom band is at $0.00169.
The MACD for PUMP is approximately 0.00017, above the signal at approximately 0.00015. The MACD histogram stands at about 0.00002, indicating positive momentum.
PUMP will need to protect the $0.00208 support level to maintain the bullish structure. A breakdown through this level would leave the token vulnerable to the lower Bollinger Band at $0.00169.
The next major test for PUMP is breaking above the upper Bollinger Band at $0.00246. If the token breaks above this level, the short-term structure would improve, making a move toward $0.0046 possible.
However, failure to hold above $0.00208 would be negative for the technical setup. The digital asset would then head toward the lower Bollinger band of $0.00169.
