pump

PUMP is still under strong selling pressure and recent activity from a large holder has added more stress to the market. A wallet that held PUMP for around three months recently moved a very large amount of tokens worth about seven point five million dollars. This wallet had originally bought the tokens at a much higher value and ended up locking in a heavy loss.

Moves like this rarely happen for calm planning reasons. Most of the time they show that belief in the trade has broken. The timing matters too. The transfer happened close to recent price lows. When a large holder exits near the bottom it often signals surrender rather than confidence. This type of action usually adds more supply to the market instead of removing it.

There is also no clear sign that other large buyers are stepping in to absorb this supply. Without visible accumulation the extra tokens increase selling pressure during an already weak phase. That keeps price fragile.

From a chart view the structure remains bearish. PUMP stays below a long term falling trend that has controlled price since October. After losing support near zero point zero zero two one the price slid lower toward zero point zero zero one eight three. Every bounce attempt fails earlier than the last one. This creates a series of lower highs which is a classic sign of a downtrend.

Momentum indicators support this view. Trend signals remain pointed down. There is no clear sign of a turn yet. Volatility is shrinking under resistance instead of building near support. This tells us sellers are still comfortable and buyers are hesitant.

Activity in derivatives markets also shows fading interest. Open positions have dropped by more than nine percent. This decline means traders are closing positions rather than betting on a rebound. In strong recoveries open interest usually grows as price rises. Here it falls during drops and during small bounces. That shows low confidence.

This lack of participation weakens any upside move. Even when pressure eases briefly there is not enough follow through to change direction. As a result rallies fade fast.

Liquidation data adds more weight to the bearish case. Recent drops have wiped out a large amount of long positions while short liquidations stay small. Traders keep trying to buy the dip but get forced out as price moves lower. These events do not spark strong rebounds. Instead price keeps sliding after the flush. That tells us spot demand is not strong enough to absorb the selling.

Each liquidation wave feeds the downtrend instead of ending it. Buyers are not stepping in with size. This keeps the path lower open.

Taken together the picture remains weak. A large holder has exited at a loss. Structure is broken. Participation is fading. Liquidations favor sellers. Under these conditions more downside exploration is likely before any real recovery can form.

A deeper move toward much lower support remains possible before selling finally slows. Only when price holds a level and attracts steady buying can a rebound begin. Until then patience matters more than trying to catch an early bottom.
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