$PUMP’s Ascending Triangle Signals Potential 20% Rally – Risks t

Analysis: At $0.167, PUMP is trading within an ascending triangle on the daily chart, characterized by higher lows converging toward a resistance at $0.17. This pattern suggests accumulation, with bulls defending the $0.15 support zone (aligned with the 50-day moving average). The 200-day moving average at $0.13 provides additional support, reinforcing the bullish structure. The Stochastic Oscillator is at 60, indicating room for upward movement before overbought conditions. However, the token’s volatility, driven by Pump.fun’s meme coin ecosystem, warrants caution—24-hour trading volume has surged recently, but meme coins are prone to sharp corrections. A breakout above $0.17 could drive PUMP to $0.20–$0.22, a 20–30% move, but a drop below $0.15 risks invalidating the pattern, targeting $0.13. On-chain activity on Solana and Pump.fun’s platform adoption are key drivers to monitor. Use tight risk management given the speculative nature of $PUMP.
Key Levels:
Resistance: $0.17, $0.20, $0.22

Support: $0.15, $0.13

Recommendation: Enter longs on a breakout above $0.17 with confirmation; scale out near $0.20 to lock in profits.