- PUMP is trading within a support zone near $0.0053–$0.0056 after a steep correction from earlier highs.
- Whale activity and heavy trading volume accelerated the sell-off, though buyers absorbed liquidity near key demand.
- Traders await a confirmed base before accumulating, with BTC weakness guiding near-term sentiment.
PUMP has entered a corrective phase, retracing after recent highs and moving into a crucial support area. Market participants are assessing whether this level can stabilize price action or lead to deeper downside movement.
Correction Phase and Market Structure
According to Alpha Crypto Signal, PUMP was sold near the top, anticipating the current downturn. The asset has now retraced into the $0.0053–$0.0056 range, a support band formed by a prior base. This level is viewed as critical for near-term direction.
The correction began after an impulsive rally earlier this month, which left price action extended. Profit-taking and exhaustion at the highs opened the path for a sharp retracement. Now, PUMP is attempting to stabilize above this horizontal demand area, though pressure remains.
If this band holds, consolidation could attract renewed interest.However, a decisive fall below $0.0051 may trigger a slump to $0.0048-$0.0050, where there is more historical demand. Reactions to the region are also closely monitored by the traders to understand the next stage.
Technical Indicators and Trading Volume
The 50 EMA is starting to reverse, having driven most of the preceding uptrend. The 20 EMA inclines down more sharply and indicates the existing bearish trend. The levels are converging towards $0.0065-$0.0070 which can serve as resistance on any bounce.
The intraday information indicates that the price hit a low of about $0.00517 and recovered to $0.00558. This sharp swing suggests a volatility flush and buyer absorption at support. Still, it does not yet confirm a reversal.
Trading volume exceeded $600M in the last 24 hours, showing strong liquidity flow. High sell-side activity was followed by reduced volume as the asset tested support. This pattern points toward a possible shakeout phase, where weak holders are being forced out.
Whale Activity and Strategic Approach
Crypto Avails reported that a whale wallet unloaded over 307M tokens, worth $1.73M, near an average of $0.00564. This big trade added to intraday volatility and increased the fall to major demand areas.
Even with this selling pressure, PUMP managed to be resilient, as it rebounded off its intraday low. The price response suggests that the big customers might have intervened at discounted values.Yet, without stronger follow-through, momentum remains tentative.
Alpha Crypto Signal notes that the best strategy is patience. The focus is on letting the correction mature before accumulation. Traders are advised to wait for support confirmation, manage risk near $0.0051, and monitor BTC’s trend as it remains the macro driver.
