The Solana-based memecoin launchpad token Pump.fun (PUMP) surged 104.7% in the second half of August, reaching a peak of $0.00543 from $0.00265, but has since retraced 29.5% to trade at $0.0038. A $25 million token unlock on September 12, combined with Bitcoin’s sell-off from $82,000, has pressured the altcoin market. Key support at $0.00317 may determine whether the bullish trend remains intact.
Pump.fun (PUMP) rallied by 104.7% in the second half of August, rising from $0.00265 to a peak of $0.00543.
Since then, the Solana memecoin launchpad token has retraced 29.5% and was trading at $0.0038 at the time of writing.
Bitcoin’s sell-off from the $82K-mark has sapped bullish momentum from the altcoin market over the past two to three weeks.
Additionally, a PUMP unlock of approximately $25 million occurred on September 12, part of a cliff unlock of 1.47% of the float each month with a vesting end date in June 2029.
The consolidation phase from March to late July was ended by August’s rally. The $0.00217-level was a resistance beneath which the downtrend fell to a low of $0.00115 on June 25.
In following weeks, the 20-week moving average flipped to support and Bollinger Bands expanded as volatility increased. The uptrend attracted capital flows and burst toward November 2025’s highs.
The retracement approached the $0.00317 support level from late 2025 to early 2026. The Chaikin Money Flow (CMF) was at -0.19, its lowest since May, while the Awesome Oscillator formed a bearish crossover signaling a momentum shift.
Indicators reflected the retracement and do not predict the future trend. It remains likely that the $0.0031-support zone will hold.
The 4-hour chart highlighted the retracement further. The 78.6% Fibonacci retracement level at $0.00325 lined up with the higher timeframe former resistance at $0.00317.
At the time of writing, the $0.00375–$0.0040 supply zone was an obstacle for bulls. So long as PUMP’s price stays above $0.00317, a bullish bias is warranted.
A dip below this area would highlight bullish weakness, and a drop below $0.00265 would signal a downtrend in progress.
