The cryptocurrency market is experiencing a renewed surge of activity following recent volatility. Ethereum (ETH) recently witnessed a brief dip before rebounding to around $4,575, driving positive sentiment across various altcoins, including Pump Fun (PUMP). 📈 💰 📈
Today saw PUMP surge by 8%, reflecting a notable uptick. This momentum has coincided with an emerging fractal pattern suggesting this could mark the start of a larger rally.
Source: Coinmarketcap
A side-by-side comparison on the daily chart reveals striking similarities between PENGU’s recent breakout and PUMP’s current setup. 📈
PENNGU, following a prolonged selloff after its listing, broke out from its falling wedge pattern and reclaimed its 25-day moving average. This breakthrough triggered a stunning 375% rally within weeks.
Now, PUMP seems to be utilizing a similar playbook. 🚀
Following a breakout from its own falling wedge pattern, Pump is currently testing the 25-day moving average at $0.003257. This exact level aligns with PENGU’s position before its explosive ascent. This resemblance underscores a classic fractal formation, suggesting that PUMP may be on the verge of a similar bullish surge.
What’s Next for PUMP?
If the fractal continues to play out, a confirmed break above the 25-day MA could open doors toward resistance at $0.006891, representing a potential +114% upside from current levels. This prediction aligns with PENGU’s earlier trajectory.
On the downside, failure to hold above the breakout level near $0.0028 would invalidate the fractal setup and potentially expose Pump to renewed weakness. For now, however, chart patterns strongly suggest that PUMP may be primed for a significant rally in the coming days and weeks. 📈
Disclaimer: This article is intended for informational purposes only and should not be construed as financial advice. It’s crucial to conduct your own research before investing in cryptocurrencies.