The utility token of the Pump.fun coin launch platform, PUMP, has maintained a bearish trend since early February, diverging from broader market gains. Technical analysis suggests a potential further decline of 5.5%, with key support at $0.0017 and resistance at $0.0022-$0.00235 needing to be overcome for a bullish reversal.
PUMP, the utility token of the coin launch platform Pump.fun, has continued its bearish trend since early February despite recent bullish movements in Bitcoin and some altcoins. The token experienced a brief bounce of nearly 6.4% on Monday, March 23rd, but has since receded below the $0.0018 mark.
Technical analysis indicates the altcoin could suffer another 5.5% drop this week. The price declined by 16.8% over the past week, and its upside momentum was capped by less intense demand, as reflected by the On-Balance Volume (OBV) indicator. A breakout above the $0.00220-$0.00235 supply zone is needed to flip the trend bullishly on the one-day timeframe.
The $0.0017 level has been identified as crucial support, unbroken since December 2025. A retest of this level could present a buying opportunity despite the prevailing bearish trend. Conversely, a price move above $0.00187 and $0.00192 would signal a lower timeframe structural shift, potentially leading to a rally towards the $0.0022-$0.00235 range.
The Awesome Oscillator remains below the zero line, and trading volume has been falling over the past ten days. Traders are advised to wait for increasing buying volume and a bullish momentum shift on lower timeframes before anticipating a move towards the key supply zone.
