PUMP Price’s Recovery from Recent 18% Drop Hinges on These Holders
PUMP's recovery from an 18% drop is uncertain due to consistent long-term holder selling and slowing new address growth.Summary
Pump.fun (PUMP) is trading at $0.0018, attempting to recover from an 18% decline, but on-chain signals suggest a difficult path back to $0.0020. A major concern is the consistent selling by long-term holders, as the Glassnode HODLer net position change chart shows uninterrupted outflows for over five weeks, indicating a lack of conviction at current prices. Reinforcing this is the Money Flow Index (MFI), which has dropped from overbought levels to a neutral 49.93, showing buying pressure is only matching, not overwhelming, selling.
The only conditional positive signal is new address growth, which has been positive but is now decelerating. If this growth stabilizes or turns negative, the last supportive factor disappears. Technically, PUMP is struggling below the descending 20-day EMA ($0.0019) and the 23.6% Fibonacci retracement level ($0.0018). A daily close below $0.0018 could lead to a retest of the cycle low near $0.0017, while a sustained recovery requires new address growth to re-accelerate and a close above $0.0021.
(Source：BeInCrypto)