PUMP is not bullish. It is compressed. That distinction matters. Price has been stuck in a macro downtrend since the blow-off near 0.009, but the character of the move has changed. We are now grinding into major horizontal support around 0.0017, and volatility has collapsed.
Structurally:
-Lower highs and lower lows still intact.
-A descending wedge is forming right on top of support.
-This is classic downside exhaustion behavior, not trend reversal yet.
What I am watching:
-A clean break and hold above the recent lower-high trendline.
-Follow-through volume. Without volume, any bounce is just noise.
If structure flips, the first meaningful upside zone sits around 0.0028–0.0034. That is not a moon call. That is where structure actually changes. Until then, rallies are counter-trend and need to be treated as such.
Risk is defined here. Direction is not.
