Markets· ★★· neutral·

PUMP rebounds 6.78% on October 16, but volume fails to confirm the move

  • —PUMP trades at $0.0046971 with a reported daily gain of 6.78%
  • —Volume of $139.45 million is 50.9% below the 30-day average
  • —RSI at 45.1 and a bearish MACD do not confirm a reversal
  • —Pump.fun scrapped app trading fees and added perpetuals with up to 40x leverage
Why it matters: The rebound lacks volume support: PUMP needs to reclaim its short-term averages on rising activity to confirm a trend shift.
#PUMP
Source: DiarioBitcoin
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