According to reports from AMBCrypto, Pump.fun [PUMP] has extended its bullish momentum with a 10% price surge over the past 24 hours, building on the previous 9.6% rebound that saw the token successfully defend the $0.0034 support level. The latest surge comes amid high pump launches currently going on at Pump.fun, as well as increased usage of the platform and capital movement into meme coins. The Altcoin Season Index is currently at 49, signaling a greater appetite for riskier assets within the crypto markets, while the token has been trading at $0.0038 at the time of writing. The recent weakness had been attributed to Bitcoin's sell-off from the $82K mark, which has sapped altcoin market bullish momentum over the past 2-3 weeks.
The current price increase is happening amidst an increasing launch activity on Pump.fun, which is driving up platform usage as well as increasing demand within its ecosystem. According to recent data, both Pump.fun's holders' revenue and active addresses have recorded significant spikes. In the last 24 hours alone, the network revenue shot to $761K while the number of active addresses rose to 86,000. The trading volume for the network rose by 8.89% to $179.28 million, indicating considerable capital movement into the platform. The Holder Rewards program, which was enrolled on September 12th, could provide another source of buying pressure by encouraging users to maintain exposure to the token.
According to AMBCrypto, the consolidation phase that PUMP experienced from March to late July was ended by August's rally. The $0.00217-level was a resistance level beneath which the consolidation/downtrend fell, reaching a low of $0.00115 on June 25th. The 20-week moving average was flipped to support and Bollinger Bands expanded as volatility increased. The retracement approached the $0.00317 support level from late 2025-early 2026, with the Chaikin Money Flow (CMF) at -0.19, the lowest since May. The Awesome Oscillator also formed a bearish crossover to signal a momentum shift. On the daily chart, PUMP is now approaching its $0.005 local swing high, making the level an important test for the ongoing recovery. The token is trading above all key EMAs, suggesting that network buyers and holders are still in dominance.
According to AMBCrypto analysis, the 4-hour chart highlighted the retracement better, with the 78.6% Fibonacci retracement level at $0.00325 aligning well with the higher timeframe former resistance at $0.00317. At the time of writing, the $0.00375-$0.0040 supply zone was an obstacle for bulls to overcome. The latest momentum indicators show DI+ hovering above the negative index while ADX sits at 36, suggesting upside momentum remains stronger than downside pressure. A sustained move above $0.005 could strengthen the bullish structure and open the way for further gains, while failure to clear this resistance could trigger profit-taking, particularly after the token's 10% daily advance. For this to hold, the altcoin must ensure a close above $0.0036, and failure to do so would result in a revisit to $0.0034.
