- PUMP rallies sharply as trading volume spikes over 79 percent.
- Key support and resistance levels define short-term trading outlook.
- Technical indicators show mixed momentum amid ongoing legal developments.
The Pump.fun (PUMP) token registered a sharp price move during the latest trading session, reaching a high of $0.00290 before pulling back to a more stable $0.002498. This represented a 2.9 percent daily gain, signaling active participation among traders.
Following this movement, PUMP now sits just above a short-term support level near $0.00249. This level emerged after the retracement and may serve as a foundation for price stability if buying interest continues.
Volume Spike Signals Renewed Trader Focus
A key highlight of PUMP’s recent price action is the surge in 24-hour trading volume, which climbed over 79 percent to $663.7 million. This marks a significant increase in market engagement and suggests growing visibility on trading platforms.
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The token’s market capitalization has now reached $884.3 million. Meanwhile, its circulating supply currently stands at 354 billion tokens, roughly one-third of the total supply, indicating that volatility may remain high.
As traders keep a close eye on short-term price shifts, this structure allows for sharp upward or downward moves depending on sentiment and order flow.
Source: CoinMarketCap
Key Levels and Indicators Outline Short-Term Scenarios
Support at $0.00249 has gained significance, as the price remained above it despite intraday profit-taking. A breach below $0.00242, which marked the day’s low, could introduce further selling pressure. This level is now seen as a critical area of support in the near term.
On the upside, immediate resistance sits near $0.00280, while a stronger barrier is seen at $0.00290. This was the session’s high and the level where sellers emerged. A successful move above this zone could prompt a renewed rally.
According to data from TradingView, technical indicators point to mixed momentum. The MACD on the 4-hour chart is showing signs of a potential bullish crossover, though it remains in negative territory. Additionally, the RSI stands at 42.38, placing it just above the oversold threshold and hinting at possible upside if buying continues.
Source: Tradingview
PUMP Outlook Draws Attention Amid Ongoing Lawsuit Developments
Interest in Pump.fun’s token has also remained elevated following ongoing legal developments. Executives from Solana and Jito were recently named in an expanded $722 million lawsuit tied to Pump.fun operations. Although trading behavior has not directly reacted to this news, it continues to shape broader investor sentiment.
In related metrics, Pump.fun’s daily revenue dropped below $300,000, the lowest level since September 2024. While this has not yet impacted market cap, it may influence longer-term investor confidence.
The latest trading session has positioned PUMP near a crucial support level, with volume growth confirming active market interest. Momentum indicators and price levels suggest that traders are now watching for a breakout or breakdown as the token consolidates within a narrow range.
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