🛑📈$PUMP Distribution Phase in Play, Sellers in Control
Bias: Bearish🔻
Market Structure:
PUMP has shifted from a short-term uptrend into a distribution → pullback phase. After topping near 0.00310, price printed lower highs and broke below the mid-range, confirming bearish market structure on the 1H–4H timeframes. Current price action shows weak bounces and follow-through selling, suggesting supply dominance.
Key Levels:
Resistance: 0.00290 – 0.00310 (prior range high & rejection zone)
Intermediate Resistance: 0.00280
Support: 0.00262 (local low), then 0.00245
Major Support: 0.00230 (structure base)
Momentum & Indicators:
EMA alignment: Short-term EMAs are sloping down → trend bias remains bearish.
MACD: Below signal line, confirming downside momentum.
Price rejection after minor bounces indicates sellers are active on rallies.
Volume & Flow Analysis:
Recent candles show selling pressure on down moves, consistent with distribution.
Mixed money flows and only moderate concentration suggest no strong accumulation yet.
Reports of a large stablecoin deposit to exchanges increase downside risk from potential whale selling.
Trade Plan (Spot / Short-term):
Entry (Sell on bounce): 0.00278 – 0.00285
Stop Loss: Above 0.00310 (range high invalidation)
Targets:
TP1: 0.00262
TP2: 0.00245
TP3: 0.00230 (if selling accelerates)
Invalidation / Bullish Flip:
A strong reclaim and hold above 0.00310 with volume expansion would invalidate the bearish setup and suggest trend reversal.
Summary:
Despite strong ecosystem and revenue growth, price action tells a different story for now. Until demand reclaims key resistance with volume, rallies are sell opportunities and downside risk remains elevated.