PUMP remains trapped between selling pressure and technical signals: what scenario awaits?

The Technical Scenario of PUMP: Critical Supports and Potential Rebounds

PUMP continues to move within a fragile range, trading around 0.0018-0.0019 dollars, while the chart shows mixed technical signals. The asset has been confined within a downtrend channel for several weeks, characterized by decreasing highs and persistent selling pressure. Technical indicators reflect this weakness: the RSI is below the midline, the MACD remains in a negative configuration, indicating short-term seller dominance.

The critical support level is at 0.0018 dollars. A break below this level could expose the price to further retracement toward 0.0015-0.0014 dollars, where the next demand zone resides. Conversely, a sustained close above 0.0027 dollars would represent the first significant bullish signal and could open the way toward higher resistances around 0.0045 and 0.008 dollars.

The Whale’s Move: Massive Loss and Market Implications

A major PUMP holder has executed one of the most significant transactions in recent months. According to on-chain data monitored by Nansen and OnchainLens, the whale had accumulated approximately 3.8 billion tokens between September and November, paying a total of 19.53 million dollars at an average price of 0.00513 dollars per unit. On December 23, the same address deposited the entire position on a decentralized trading platform, resulting in a total loss of 12.22 million dollars, equivalent to a 62% decline.

Although this move represents a complete exit and a significant loss, it presents an interesting aspect from a market perspective: removing a large holder could eliminate a source of selling pressure in the medium term. However, in the short term, the transfer adds liquid supply to the market, potentially weighing on sentiment.

Recovery Outlook: What Is Needed for a Reversal

For PUMP to reverse its negative trend, a decisive break of the downtrend channel structure is necessary. Sustained holding above 0.0027 dollars would constitute the first credible signal of a change in momentum. In this scenario, further breaks of resistances at 0.0045 and 0.008 dollars, accompanied by volume confirmations, could eventually lead the price toward the 0.02-dollar zone over time.

Currently, the elements are lacking for a confident rally. The asset remains under technical pressure, with sellers still in control of the main indicators. The community and traders will closely watch whether the support at 0.0018 dollars will hold or give way in the upcoming sessions.