Pump.fun (PUMP) Price Crashes 20% After First Bearish CrossoverMEXC:PUMPUSDT price is currently at $0.003055, down by nearly 20% in the last 24 hours . The MACD (Moving Average Convergence Divergence) indicator, a key tool used to track price momentum, has signaled the first bearish crossover for PUMP token since its launch.
The bearish crossover occurred after a period of rising bullish momentum, signaling that the altcoin may now be facing a downturn.
The token is holding above a key support level of $0.002921 , but this support is fragile. If MEXC:PUMPUSDT fails to maintain this level, it could continue to decline, potentially dropping to $0.002499 . This would confirm the continuation of the downtrend, and the price could fall further.
On the other hand, if MEXC:PUMPUSDT manages to hold its ground at $0.002921, it could experience a bounce back. This would allow the altcoin to rise towards $0.003803, potentially invalidating the current bearish thesis and pushing the price past the resistance of $0.004124 . The next few days will be critical in determining if PUMP can recover from its recent losses.
