$PUMP The token has once again fallen below the issuance price! The price has plummeted, directly crashing near the support level of Bonk. Currently, the only ones holding on are those die-hard retail investors who firmly believe that the project team will step in to support the price.
There are rumors that the major players will frantically buy up at the bottom to accumulate, and then initiate a wave of pump. But the question is: why not wait until the trend is completely clear before jumping in to take over? Right now, those with heavy positions are getting cut multiple times, and even those looking to bottom-fish for a 10% gain are getting trapped.
Currently, the technical indicators show a sharp drop in trading volume, and there are no signs of a rebound in the candlestick patterns—trying to bet on a rebound now is akin to licking blood on the tip of a knife! There was a retail investor hoping to enter for a 10% profit, but ended up suffering a short-term loss of over 10%...
However, at this moment, there are still two major potential rebound windows:
Firstly: If Pump can successfully launch on Binance's spot trading pair, once the official announcement is made, it often leads to an instant explosion in the market. This could either be the major players harvesting their gains or a good opportunity for retail investors to escape at the peak;
Secondly: The current situation marks the second time the issuance price has been broken, with the price hitting a new low and the trend being weak. In the short term, it might still pull back to around 40 USD, but if there’s a third or fourth break of the issuance price, who would dare to take over near that price? Retail investors have already started to panic.
Overall, Pump is currently at an extremely dangerous juncture, with weak technical signals and high risks. Without clear market signals, do not blindly attempt to bottom-fish! The market is often erratic, so it is advised not to easily jump in, and to maintain a wait-and-see attitude.
$PUMP
