PUMP price action is currently trading into range-high resistance, where a new daily resistance level has been established. This region is likely to remain an important area of supply, particularly if price begins showing signs of rejection or weakening momentum.
A correction from the current resistance zone could open the probability of a retest toward daily support, which carries strong technical confluence with the 0.618 Fibonacci retracement and the lower boundary of the established channel. This combination makes the area particularly important for assessing whether buyers remain in control.
If price action holds this support zone and establishes a higher low, it could provide the foundation for another bullish continuation and a potential retest of the range highs. Maintaining the broader channel structure would further support the prevailing bullish trend.
However, price needs to demonstrate sustained demand around support rather than simply touching the level. A decisive breakdown through this confluence zone would weaken the current bullish structure and increase the probability of a deeper retracement.
