TL;DR:
Over the last two weeks, the cryptocurrency market has shown generalized weakness. However, in recent hours, the PUMP rally and signs of an increase have captured investor attention. After a dip on Sunday, the asset rebounded 34.6%, showing relative strength against Bitcoin, which only advanced 1.94% in the same timeframe.
The bullish action is supported by a solid technical structure that began to take shape in mid-January when the token broke its previous downtrend. Thanks to accumulation by large whales, the price consolidated above the critical level of $0.00225, marking higher lows consecutively since December.
On the 4-hour timeframe, it is observed that the asset precisely respected Fibonacci retracement levels, initiating its latest impulse just above the 78.6% level. Additionally, indicators such as the RSI in overbought territory and a rising Chaikin Money Flow (CMF) suggest that buying pressure remains dominant over supply.
For this trend to persist over time, it is important for trading volume to regain the strength it showed at the beginning of 2026. Therefore, a daily session close above the $0.0034 resistance will be the necessary confirmation to seek more ambitious targets at $0.0037 and $0.0045.
In summary, the PUMP rally presents an optimistic scenario as long as the $0.0023 support remains intact. However, traders should closely monitor Bitcoin’s behavior, as a deep drop by the market leader could weaken demand and force a correction toward lower support levels.
Also read: BlockDAG’s Feb 16 Takeoff: $0.05 Listing Could Explode Into $0.40
