PUMP Price Analysis: Smart Money Backs the Rally
Since late August, PUMP has been trading within an ascending parallel channel—typically a sign of sustained buying interest. This technical formation, characterized by higher highs and higher lows, highlights a market gradually favoring bulls over bears.
According to daily chart analysis, the token has been trending upwards since August 29. “It reflects a PUMP market dominated by steady buying pressure, with traders willing to accumulate at higher levels while sellers are gradually pushed out,” notes market analyst Harsh Notariya.
The Parabolic Stop and Reverse (SAR) indicator currently shows PUMP trading above its SAR dots. When this pattern appears—dots forming below the price—it typically signals a prevailing uptrend. This suggests that demand continues to outpace selling pressure, supporting a potentially extended rally.
Another notable signal comes from the Smart Money Index (SMI), which compares retail-driven morning activity with institutional-driven afternoon buying. A rising SMI often implies that experienced market participants are accumulating the asset. In PUMP’s case, the recent uptick in SMI hints at growing interest from long-term holders.
With bullish sentiment strengthening, PUMP appears well-positioned to build on recent gains. If current trends continue, the token could retest its previous high of $0.006882 in the near term.
While technical signals are favorable, this article does not constitute financial advice. As always, market conditions can change, and traders should conduct their own research before making investment decisions.
