Pump.fun (PUMP), once labelled a “dead” memecoin, is showing signs of life again. The cryptocurrency has rallied 43% from its all-time low of $0.0023 in just seven days, triggering optimism among traders and market watchers. As technical indicators align and buying volume returns, the question arises, is this rebound the start of a longer-term uptrend, or just a temporary bounce?
From All-Time Low to Ascending Channel
After weeks of decline, PUMP has found its footing, now trading within an ascending price channel, a bullish technical pattern characterised by higher highs and higher lows. This shift suggests a clear change in sentiment, with buyers beginning to outpace sellers.
PUMP/USD 4-Hour Chart | Credit: TradingView
While this pattern doesn’t guarantee a breakout, it sets the stage for potential upside. If the current momentum continues, the price could climb toward resistance levels of $0.039 and $0.046, according to recent chart analysis.
A break above the upper boundary of the ascending channel could lead to a stronger rally, giving bulls control and likely attracting further speculative capital into the memecoin.
Momentum Building Across Timeframes
Technical indicators on the 4-hour chart support the bullish case. The Awesome Oscillator (AO), a tool used to gauge market momentum has crossed into positive territory. This signals that buying pressure is increasing and that short-term momentum has shifted in favour of the bulls.
On the 2-hour chart, a similar trend emerges. PUMP is consistently making higher lows, a clear sign of continued accumulation and growing buyer strength. Additionally, the Money Flow Index (MFI) has crossed above the zero line, indicating that capital inflows are now outpacing outflows, another bullish sign.
If these conditions hold, PUMP could be gearing up for a sustained upward move, with the next key resistance zone sitting at around $0.038–$0.046.
Supertrend Indicator Flashes Buy Signal
One of the most telling indicators currently supporting the bullish outlook is the Supertrend, a popular tool used to determine trend direction. On the 2-hour chart, the Supertrend has turned green and moved below the price, confirming a bullish trend.
This position suggests that PUMP is now trading in a “buy zone,” providing a stronger foundation for a potential breakout. With both price action and technical indicators aligned, PUMP appears technically well-positioned to challenge key resistance levels in the days ahead.
However, as with all low-cap or memecoins, volatility remains high, and price movements can shift rapidly based on sentiment.
Key Levels to Watch: $0.039 and $0.046
As bullish momentum gathers steam, traders should keep an eye on the key resistance levels. The first test lies at $0.039, a critical level where previous rallies have stalled. If this resistance is broken convincingly, PUMP could see an accelerated push toward $0.046, a level that would mark a significant recovery from its recent lows.
PUMP/USD 2-Hour Chart | Credit: TradingView
On the downside, if support levels fail to hold, especially the lower boundary of the ascending channel, then the bullish setup may break down. In this case, PUMP risks revisiting or even breaching its record low of $0.0023.
Risk management is crucial for traders, especially in memecoins, which are known for volatile swings driven by hype and sentiment rather than fundamentals.
A Second Wind or Another Fakeout?
PUMP’s 43% rebound from all-time lows has undeniably reignited interest in the memecoin. Backed by ascending technical structures, positive oscillators, and capital inflows, the short-term outlook leans bullish.
However, for this rebound to evolve into a long-term recovery, PUMP must sustain momentum, break above key resistance zones, and attract continued trading volume.
