PUMP price stalls despite 20% volume surge- Can whales restart the rally?
Despite a 20% surge in trading volume, the price of PUMP stalled, retreating from a high of $0.0015 to $0.0013 as traders took profits. Market activity showed mixed signals. On one hand, a dormant whale returned, spending 5,000 SOL ($358K) to acquire 242.66 million PUMP, indicating accumulation by high-networth investors. Exchange data showed a negative Spot Netflow, suggesting profit-taking has eased. Network fundamentals strengthened, with Daily Active Addresses jumping to 9.2k, a level not seen in nearly a month.
However, momentum indicators remain weak. The Relative Strength Index (RSI) is below 50, indicating insufficient buying pressure. The DMI setup suggests significant opposing forces, favoring sideways price action between $0.0012 and $0.0015 in the near term. For a rally to restart, rising whale demand would need to materialize and help PUMP flip the $0.0015 resistance to target $0.0016.
ambcrypto06/29 23:02