The Rise and Fall of PUMP: A Tale of Hope, Despair, and $0.0034 Resistance

by

In the grand theater of the market, the token known as Pump.fun [PUMP] attempted a valiant leap towards the hallowed ground of $0.0034-a resistance that gleamed like a mirage in the desert of digital currencies. Despite the fervent cheers of bullish momentum and whispered promises of increased revenue, the market, that fickle mistress, decided to snatch away the dreams of many.

As chronicled in an earlier account by the ever-watchful sentinels at AMBCrypto, there was once an optimistic belief that PUMP would gallantly surge past this resistance. Ah, the sweet folly of hope!

But alas, the specter of rejection loomed like a dark cloud, reminding us that this very resistance had once donned the robes of support during the golden months of September and October 2025. Who could have predicted such treachery?

And yet, a cautionary tale was spun-should Bitcoin (that revered titan of the cryptosphere) find itself tumbling below $80,600, the fragile bullish bias of PUMP might well be spooked into oblivion. And lo! The prophecy has indeed come to pass, despite the fact that Pump.fun’s decentralized exchange volume doubled in the frosty month of January. A true paradox, wouldn’t you agree?

What’s more, the revenue experienced a miraculous doubling, with over 90% devoted to the noble cause of buying back PUMP tokens. Truly, a testament to the resilience of the human spirit! And yet, the number of returning users soared to unprecedented heights just last week-one must wonder if they are returning for the thrill or the tragedy.

Yet, as the tides of sentiment turned ominously bearish following Bitcoin’s plunge past the once-stalwart support of $84.5k, dipping all the way to a chilling $74.6k on the 2nd of February, the road to PUMP recovery seems fraught with peril and delays.

Is the PUMP bias bearish now?

The 1-day chart, a canvas of despair, revealed that our hopeful meme had descended to revisit the $0.00225 level-once the launching pad of previous exuberance. Technical indicators, those merciless judges, now favor the bears, who bask in their fleeting glory.

As the On-Balance Volume sinks toward the mournful lows of January, and the RSI dips below the neutral line of 50, one can almost hear the collective sigh of traders everywhere signaling a shift in momentum.

If the current selling frenzy persists and drives prices beneath the fateful $0.00225, our swing traders may be left with no choice but to don the somber garb of bearish sentiment.

Traders’ call to action – Stay bullish

In the midst of this turmoil, the price action reveals that, for now, the structure retains a semblance of bullishness-like a candle flickering bravely against the wind.

Yet, prudent traders and investors must prepare themselves for the possibility of a bearish upheaval. After all, Bitcoin’s failure to reclaim its former glory above the $79.4k resistance set on that fateful Sunday, the 1st of February, threatens to draw the entire altcoin market, including our beleaguered PUMP, into the abyss.

Final Thoughts

  • PUMP may still cling to a bullish 1-day structure, but one cannot ignore the potential for this fortress to crumble under relentless selling pressure.
  • Traders and investors, take heed! Flexibility will be your shield in this tumultuous battlefield as the meme dances precariously around the $0.00225 inflection point.

Read More

2026-02-03 08:12