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07/27 07:25

PUMP appears to have found short-term support PU

PUMP appears to have found short-term support

PUMP-H2-Chart-768x400.png

The price action of the 2-hour chart showed PUMP was shifting in favor of the bulls. The price bounce on the 25th of July to reach $0.0029 came alongside high trading volume.

Although the bounce appeared encouraging, it was still the local resistance zone from the 24th of July.

The $0.00245 level has been a support level over the past 48 hours. The Awesome Oscillator highlighted that bearish momentum was weakening.

The CMF was above +0.05, signaling increased buying pressure in recent trading hours.

At press time, PUMP remained bearish in the short term, but there was some hope for recovery. A push beyond the $0.0029-$0.003 resistance could pave the way for further short-term gains.

However, the past ten days of trading have been predominantly bearish. Traders and investors must exercise caution if looking to bid.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

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