$PUMP is now at 0.004558, up 2.24% over 24 hours, but trading volume is only 16M. Over the past hour, volume has fallen to 0.3 times the daily average, while the price is down 0.24%; over the past 4 hours, it's down 1.43%. The price is up, but volume isn't keeping up.
What I care about is who's buying. With a volume of 16M, there's not enough support to sustain that high of 0.004752; when it was pushed up there, nobody followed through. Now it's grinding lower on declining volume, which looks more like earlier buyers slowly cashing out than a shakeout.
0.004254 is the low for this move. If it breaks below that, everyone who bought today is in the red. I'm staying put and waiting to see what it does.
#PUMP #BinanceSquare #Crypto
What I care about is who's buying. With a volume of 16M, there's not enough support to sustain that high of 0.004752; when it was pushed up there, nobody followed through. Now it's grinding lower on declining volume, which looks more like earlier buyers slowly cashing out than a shakeout.
0.004254 is the low for this move. If it breaks below that, everyone who bought today is in the red. I'm staying put and waiting to see what it does.
#PUMP #BinanceSquare #Crypto