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Following
PUMP PUMP rebounded from support, with trading volume surging 61%, and buyer interest increasing
Spot and derivatives markets showed rising demand and increased long positions. If it can stabilize at US$0.0016, it is expected to hit the resistance level of US$0.0018.
Pump.fun (PUMP) regained momentum after being stuck in important resistance for several days. Buyers \'confidence returned, pushing PUMP to a new high in the month, followed by a slight correction. Strong trading activity has injected new optimism into the market. Demand from both spot and derivatives traders rose, indicating continued improvement in market confidence. The next few trading days will determine whether buyers can continue their rally or lose control again.
Buyers return, trading activity accelerates
PUMP has tried repeatedly to break through the US$0.00165 resistance level without success. But the situation changed after buyers stepped in the $0.0015 support area. Strong demand quickly pushed prices to a month-high of $0.00169 before falling back to around $0.00165. The daily increase is about 9%, and market participation has increased significantly. Trading volume climbed 61%, indicating renewed investor interest.
High trading volumes often strengthen price movements because more buyers and sellers actively participate. Current activity suggests that market confidence has returned after recent weakness. Spot market data also supports this view. On July 5, purchases reached US$3.22 billion, while sales were US$2.7 billion. In the subsequent trading session, buying pressure still prevailed. Market participants recorded $1.14 billion in purchases, compared to $1.02 billion in sales. The difference between positive buying and selling orders reached $616 million, a reading that usually means buyers are more dominant in the market. If momentum remains stable, continued demand is expected to push prices further higher.
Derivatives traders have also increased their participation. Open interest volume rose 12% to $144 million. Derivatives trading volume also jumped 40% to $149 million.
Technical indicators support further gains
Technical indicators also support the prospects for continuous improvement. The Aroon Up indicator soared to 100%, while the Aroon Down indicator fell to 21%. Such readings usually point to strong upward momentum and active bullish trends. Another positive sign comes from the average trend index. Positive trend indicators have recently crossed negative trend indicators. This intersection shows that buyers \'power continues to increase and momentum is accumulating. Taken together, these indicators paint a positive picture of short-term price movements. Strong demand in the spot and derivatives markets also supported this expectation.
Buyers currently have an advantage, but there is still resistance ahead. Whether you can hold $0.0016 is the next important test. Successful defense will pave the way towards the $0.0018 resistance level. If the current support cannot be held, it may fall to US$0.0013 again before buyers try a new round of rebound. Pump.fun regained strength through rising demand and increased market participation. Technical indicators continue to support bullish views. Holding key support levels is crucial for further gains.
