Important collection restaurants
A crypto -walvis threw 250 million pump with a value of $ 1.53 million. Data on chains showed that the sentiment remains bullish in the short term, but long -term signals a strong sales pressure.
Pump.fun [PUMP] Has attracted the attention of crypto enthusiasts with a parabolic price destination of 150% in the past three weeks.
This continuous rally is now calling for concern about whether this marks the peak of the pump bullrun, or whether it can actively see it upside down.
This care occurs as a private investor plant tension, “3xamm”, with 2.5 billion pumps, started taking a profit.
Whale dumps 250 million pumps, time to sell?
Data from Crypto Transaction Tracker Lookonchain It appears that the wallet recently dumped 250 million pumps worth $ 1.53 million on Binance.
Yet it still has a huge pump of 2.25 billion worth $ 13.6 million.
Despite the enormous sale, Pump continued to climb over 24 hours and registered a price win of 3.85%. The active is currently being traded near the level of $ 0.006325.
Investors and traders, however, seem to avoid participation in the same period, resulting in a fall in trade volume by 45%.
This decrease in trade volume, despite the rising price, indicates that market participants are not interested in pushing the pump higher.
Pump price promotion and upcoming levels
The technical analysis of Ambcrypto shows that the recent price reinforcement has pushed the pump to an important resistance level of $ 0.0070.
This is the same level from which it fell more than 63% after the launch. Moreover, the sales pressure is also clear on the daily candle due to the presence of a long upper wick.
Source: TradingView
Based on the current price promotion, if the pump is close to the level of $ 0.0069 or $ 0.0068 and a bearish Candlestick pattern, this would indicate a potential price reputation.
If this happens, pump could fall to his previous support level of $ 0.005 or the breakout level of $ 0.0042.
At the time of the press, indicators, including the Bollinger tires and the relative strength index (RSI), flashing bearish signals seemed.
On the daily graph the Bollinger tires have been widened and the price is floating at the upper limit and indicates a potential reversal soon.
In the meantime, the RSI of Pump has been crossed to Overbought Territorium, which also suggests that a potential price reverse appears because it appears to be active in recent days.
Mixed sentiment flashes to the chain
In addition to whale activity, Coinglass of Analytics platform on chains reveals that exchanges have witnessed the last five trading days of continuous inflow of tokens.
In the last 24 hours alone, $ 5.90 million in pump has been moved to fairs.
Source: Coinglass
This indicates a possible sale of investors and long -term holders, which reduces the purchasing pressure.
At the time of the press, traders seemed to follow the trend by placing strong bets in long positions.
Coinglass data reveals two important liquidation levels at $ 0.00597 and $ 0.0067, in which traders are died of $ 12.57 million in long positions and $ 3.72 million in short positions.
Source: Coinglass
This reflects a mixed sentiment between buyers and sellers. Although today’s sentiment seem bullish, whale and investor activity suggest at higher time frames that the sentiment starts to shift to the Bearish side.