$0.0033 eye when PUMP’s developer-focused call feature is released
Key receivers
PUMP is up 1.1% in the last 24 hours, outperforming the broader crypto market.
The latest rally comes after Pump.fun launched a new call for action in an earlier feature that allows creators to share trending coins on the platform.
Pump.fun's DEX volume rises as price approaches $0.003.
PUMP, the native coin of Pamp.fun DEX, is up 1% in the last 24 hours, outperforming the broader crypto market.
The positive performance comes after Pump.fun released a dialing feature on Thursday for creators to share listed coins with their followers. This latest development is likely to boost social demand and business activity on the platform.
The amount of Pamp.fun DEX released has been increasing, reaching $84.34 million a few hours ago.
In addition, results indicate that retail demand on the PUMP as capital inflows and funding levels were seen last week. According to CoinGlass, PUMP's open interest (OI) has dropped 2% over the past 24 hours to $237.69 million.
In addition, the OI weighted funding rate is at -0.0032%, pulling it into negative territory, suggesting that traders will hold more short positions.
PUMP saw a psychological level of $0.0033.
The PUMP/USD 4H chart is very smart and efficient as the cryptocurrency has performed well since the beginning of the week. PUMP is trading at $0.0029 after declining in the last two sessions.
The moving average converging divergence (MACD) remains above the signal line and in positive territory. The Relative Strength Index (RSI) rises to the overbought zone at 60, consistent with this week's recovery.
If the daily candle closes above $0.003000, it will support the recent bias and push the PUMP price to $0.0033. The next highest resistance level stands at $0.004048
However, if the bulls fail and PUMP falls below the 20-day EMA at $0.002577, it may drop further towards the $0.002330 support level.
