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Key Takeaways:
- PUMP is holding above a key trendline, with upside targets set at $0.0032 and beyond.
- RSI remains below 50 and MACD has yet to signal a bullish crossover.
- Increased trading volume contrasts with reduced open interest, showing cautious participation.
Pump.fun (PUMP) has posted a 1.24% price increase over the last 24 hours, trading at $0.002831, while its 24-hour volume jumped 26.72% to $657.5 million—signaling renewed interest in the meme coin market despite short-term volatility.
Resistance Flip Signals Potential Upside
Crypto analyst Kamran Asghar noted that PUMP is currently retesting a major resistance-turned-support level between $0.0028 and $0.0029 on the 4-hour chart. This follows a clean breakout, with the broken trendline now acting as support. If this support holds, PUMP could target higher levels at $0.0032, $0.0034, or even $0.0036 in a more aggressive move.
$PUMPF is retesting a previous resistance flip zone around $0.0028 – $0.0029 on the 4-hour timeframe, after a strong breakout! 📷 The current price is approximately $0.0029.
— 𝐊𝐚𝐦𝐫𝐚𝐧 𝐀𝐬𝐠𝐡𝐚𝐫 (@Karman_1s) July 31, 2025
After breaking above its descending trendline, Pump Fun is now confirming this level as new support. A… pic.twitter.com/T8ayaPhxik
This structural support is crucial in validating bullish momentum and could mark the beginning of another upward leg if confirmed.
RSI Weakens While MACD Stays Mixed
Despite bullish hopes, momentum indicators urge caution. The Relative Strength Index (RSI) is currently at 42.84, down from earlier highs, suggesting weak momentum. While not in oversold territory, a move above 50 would be necessary to restore confidence in the rally.
Meanwhile, the MACD paints a mixed picture. The MACD line (0.000032) remains below the signal line (0.000082), and the histogram shows a bearish -0.000050 reading. No bullish crossover has occurred, leaving traders waiting for confirmation before acting.
Trading Volume Soars but Open Interest Drops
According to CoinGlass, PUMP’s trading volume surged 52.49% to $1.92 billion, but Open Interest fell 2.34% to $437.17 million—suggesting that traders may be closing long positions. The OI-weighted funding rate remains neutral at 0.0074%, reflecting a lack of leveraged bias and a market waiting for direction.
Pump.fun sits at a key juncture. With strong trading volume and a successful support retest, another bullish wave is possible—provided momentum indicators align. Traders are now watching for confirmation at $0.0032, $0.0034, and $0.0036 before committing to further upside bets.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
Also Read: Pump.fun (PUMP) Price Eyes Rebound After 67% Crash
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
