Pump.fun (PUMP) could rally 20% if it breaks $0.00197 resistance
Pump.fun (PUMP) is showing a bullish reversal as broader crypto markets turn green. PUMP gained over 6.5% in 24 hours and 24‑hour trading volume rose about 11.5% to $135 million, signalling stronger market participation. Technicals on the four‑hour chart show PUMP holding a key support at $0.00166 (in place since Dec 2025) and approaching a descending trendline formed on 15 Feb 2026. A confirmed four‑hour candle close above $0.00197 could trigger a roughly 20% rally toward $0.0024; failure to break would likely prompt a reversal. Momentum (ADX) sits at 21.95, below the 25 threshold, indicating limited trend strength. Derivative and on‑chain flows reinforce bullish positioning: CoinGlass data shows $4.30m in long‑leveraged positions vs $905k in shorts concentrated near $0.00172 (support) and $0.00197 (resistance), and about $1.73m of PUMP tokens withdrawn from exchanges in the last 24 hours, suggesting accumulation. An X post from a crypto analyst also flagged a bullish reversal pattern and a potential run toward $0.0033. Key trade takeaways for traders: watch for a decisive four‑hour close above $0.00197 to confirm a breakout target near $0.0024 (20% upside); manage risk around $0.00166–$0.00172 support; monitor ADX and volume for conviction and liquidation clusters at the $0.00172/$0.00197 levels.
Bullish
The article presents multiple converging bullish signals: recent price gain (+6.5%), rising 24‑hour volume (+11.5%), support holding at $0.00166, concentrated long leveraged positions ($4.30m vs $905k shorts) and $1.73m of tokens withdrawn from exchanges indicating accumulation. A clear technical trigger is defined — a four‑hour close above $0.00197 — which would historically validate breakouts and attract momentum traders, potentially producing ~20% upside to $0.0024. ADX below 25 and past failed breakout attempts impose caution: trend strength is not yet robust, so false breakouts are possible. Short‑term impact: likely bullish continuation if the $0.00197 resistance is convincingly cleared with rising volume and improving ADX; otherwise volatile range or pullback to $0.00166–$0.00172 support. Long‑term impact: sustained accumulation and reduction of exchange supply support a constructive medium‑term outlook if on‑chain outflows persist and higher timeframe structure flips resistance to support. Risk factors include low ADX, crowded long positioning (risk of deleveraging on sharp reversals), and broader market weakness that could negate the setup.