PUMPUSDT.P price has taken a steep 18% hit in the last 24 hours, but the 2-hour chart shows PUMPUSDT.P price action clinging to a critical Fibonacci support near $0.00259. The token is still trading inside an ascending channel, hinting that the bullish structure hasn’t fully broken yet.Whales have been scooping up the dip aggressively, adding 5.4 billion PUMP tokens over the past week (a 35.8% jump in their holdings). Despite retail selling pushing netflows positive intraday, big wallets continue to absorb supply. Daily accumulation is also up 3.2% in the last 24 hours, reinforcing the demand floor near current levels.
Meanwhile, long positions dominate the liquidation setup, with $7.88 billion in longs versus just $3.6 billion in shorts. If
PUMPUSDT.P price bounces, a cascade of short liquidations could amplify the recovery rally. But failure to defend $0.00259 risks opening the door to $0.00241, putting bulls on the back foot.For now, the $0.00259–$0.00260 zone is the make-or-break level. Holding above keeps
PUMPUSDT.P price inside the bullish channel, setting up a potential retest of $0.00284–$0.00294. A breakdown, however, could flip sentiment sharply bearish.
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Truly Unbiased Cryptocurrency News beincrypto.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.