BTC is up 1.27% today and $PUMP is still sliding. It is 0.005455 now, 5.3% lower than the 0.005757 where I wrote about it 27 hours ago.
Last time I said I would not call a bottom and wanted to see the weekly low of 0.005097 hold first. Both parts still stand. I did not call a bottom, which was right, and price now sits about 7% above 0.005097, so the line has not been lost.
What changed is the backdrop. Yesterday PUMP fell while BTC fell too. Today BTC is green and PUMP is still down 2.1%. A coin that drops when the market drops and also drops when it rises is showing its own weakness, not the market's.
The week has turned red at -7.5%, and price sits 19.9% under the weekly high of 0.006806. The one softer signal is volume, about 45.4M USDT, down to 0.77 times the 7-day average. The selling is getting quieter.
Hourly RSI is 37.9, a little higher than 34.9 at my last post. I still want 0.005097 to hold. Quiet volume above that line is how a base forms. A break under it, with volume picking up again, would end the range and make the sellers' case.
#PumpFun #PUMP
Last time I said I would not call a bottom and wanted to see the weekly low of 0.005097 hold first. Both parts still stand. I did not call a bottom, which was right, and price now sits about 7% above 0.005097, so the line has not been lost.
What changed is the backdrop. Yesterday PUMP fell while BTC fell too. Today BTC is green and PUMP is still down 2.1%. A coin that drops when the market drops and also drops when it rises is showing its own weakness, not the market's.
The week has turned red at -7.5%, and price sits 19.9% under the weekly high of 0.006806. The one softer signal is volume, about 45.4M USDT, down to 0.77 times the 7-day average. The selling is getting quieter.
Hourly RSI is 37.9, a little higher than 34.9 at my last post. I still want 0.005097 to hold. Quiet volume above that line is how a base forms. A break under it, with volume picking up again, would end the range and make the sellers' case.
#PumpFun #PUMP