Key control
Pump.fun recovered 12% after having $ 0.0032, backed by positive financing rates and a long/short/2.36 ratio. Will the pump hold the impulse above the resistance of $ 0.0041?
Bomb. [PUMP] It joined 12.09%, reaching a maximum of 2 weeks of $ 0.00386 after maintaining a support at $ 0.0032.
At the time of publication, the bomb turns over $ 0.003743. During the same period, the volume increased by 76% to $ 290 million, which indicated heavy tickets.
Pump demand.
After the vendors dominated the market towards the end of August, the memecoin decreased from $ 0.0037 to $ 0.0032.
Naturally, when the pump. Fun hit those minimums, the buyers collected the dip again. As such, the market registered a positive delta between August 1 and 2.
Source: Coinalyze
In fact, Coinalyze data showed 3.1 billion purchase volume compared to 2.7 billion sales volume, leaving a positive delta of 400 million bomb tokens. That pointed out accumulation of aggressive spots.
The feeling of futures becomes even more optimistic
The derivative market leaned even stronger towards bulls. According to Santiment, Fum’s financing rates remained positive all week.
Source: Santiment
At the time of the publication, the Memecoin rate was 0.005% that indicates a upward feeling sustained in the futures market. In general, a positive financing rate reflects merchants who pay premiums to retain the lengths.
Source: Coinalyze
In addition, Coinalyze showed the pump ratio. Long positions represented 70.27% of the accounts, while the shorts had 29.73%.
Increased profits
Interestingly, when the pump. Fun Bañó, Spot Netflow hit -$ 6.29 million, confirming a great accumulation at lower levels. In addition to that, as prices recovered, merchants began to make profits.
Source: Canderlasss
According to Coinglass, the bomb recorded two consecutive days of positive network flow, which reflects the entries as downloaded tokens. At the time of publication, Netflow stood at $ 1.19 million, highlighting aggressive sales flows.
The moment indicators show a mixed image
According to Ambcrypto’s analysis, the pump. Fun was matched by impulse signs. The stochastic RSI increased to 92 after an upward crossing, showing a strong purchase pressure.
Source: TrainingView
However, despite the upward trend of strengthening, the positive index of the directional movement index (DMI) had not yet made a bullish crossing at the time of publication.
To validate the strength of the upward trend, DMI must also make a bullish crossing.
If that happens, the pump could try $ 0.0041 resistance. However, the lack of impulse retention can drag the pump towards the $ 0.0032 support.
