PUMP Surges 20% — Is Another 5% Rally Still Ahead?

Jul 31

PUMP(PUMPUSDT) has surged nearly 20% over the past 24 hours, supported by both fundamental catalysts and a major technical breakout.

Can PUMP extend its rally, or is a temporary pullback approaching?

Key Catalysts

• BOOST Buybacks: Continuous buybacks helped absorb part of the selling pressure following the recent token unlock.

• Spot-Led Demand: Open Interest declined while price moved higher, suggesting that the rally was driven mainly by spot buying rather than excessive leveraged positions.

• Technical Breakout: PUMP broke above its multi-month Descending Channel with significantly higher trading volume, attracting new liquidity and momentum traders.

Technical Analysis

On the 4-hour time frame, PUMP is currently approaching the Resistance Zone, Resistance Lines, and Cumulative Short Liquidation Leverage($0.002230-$0.002186).

From an Elliott Wave perspective, PUMP appears to be completing its main wave 5. The price could temporarily break above the Resistance Lines before reaching its final top.

I expect PUMP to continue its bullish move and gain at least another +5%.

However, after reaching the Resistance Lines and Cumulative Short Liquidation Leverage, the token could experience at least a temporary pullback.

Cumulative Long Liquidation Leverage: $0.001958-$0.001915

Key Trading Level: $0.00200-$0.001970

Do you think PUMP can break above the Resistance Zone before a pullback?

🟢 Yes
🔴 No

📌 PUMP Analysis, 4-hour time frame.

🛑 Always use proper risk management and set a Stop Loss(SL) for every position.

🚀 If this analysis helps your trading plan, a BOOST would help more traders discover it.

Aug 3

Trade closed: target reached

The PUMP analysis offered opportunities in both directions—you could have benefited from both the long and short positions.

I hope the analysis was helpful!