PUMP, the native token of Solana-based memecoin launchpad Pump.fun, has dropped 7% today. The decline comes as the token trades under its 20-day exponential moving average (EMA), which now acts as dynamic resistance at $0.0033. This confirms that bears have dominated recent sessions, applying strong selling pressure.
The 20-day EMA is a key indicator for short-term momentum. With PUMP currently below this level, it suggests that sellers are in control and short-term support has weakened. If this trend continues, PUMP risks dropping further to the $0.0022 zone.
Despite the bearish signals, a reversal is possible if demand returns. A recovery could push PUMP back toward $0.0032, with the 20-day EMA remaining a critical level to watch for any bullish breakout.
The 20-day EMA is a key indicator for short-term momentum. With PUMP currently below this level, it suggests that sellers are in control and short-term support has weakened. If this trend continues, PUMP risks dropping further to the $0.0022 zone.
Despite the bearish signals, a reversal is possible if demand returns. A recovery could push PUMP back toward $0.0032, with the 20-day EMA remaining a critical level to watch for any bullish breakout.
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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.