PUMP breaks key support as buybacks struggle to stem losses – Can buyers return?

After Pump.fun [PUMP] peaked near $0.0068 in early October, it declined sharply since then due to seller dominance. Prices initially remained in a range of approximately $0.00530 through $0.00600. However, repeated attempts to breach higher levels demonstrated that buyer momentum was being diminished. Following the drop below $0.00525, selling increased rapidly as the market also lost its consolidation floor. Subsequent falls in price below $0.00475 deepened the losses even further with buyers unable to protect an additional demand level. As a result, prices have fallen towards $0.00430 and left the late September rally increasingly vulnerable. Supportive indicators of the bearish trend include rising volumes of selling along with the current RSI reading of 26.09, indicating over-sold conditions. However, weak momentum could persist unless buyers absorb selling near $0.004226.

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