PUMP Token Reveals Classic Bearish Head and Shoulders Pattern Amid Extended Decline

rugdoc.eth · 2026-01-05T14:38:09+00:00

Pump.fun (PUMP) has dropped over 57% due to market pressure, forming a bearish head and shoulders pattern. Currently trading at $0.00, further declines are expected, with a target price near $0.00085 if support fails.

rugdoc.eth

2026-01-05 14:38:09

Abstract generation in progress

According to technical analysis from CoinsProbe, Pump.fun (PUMP) has experienced a steep descent of over 57% during the past two months as market-wide selling pressure continues to weigh on the altcoin sector. The formation of a prominent head and shoulders pattern on its daily timeframe has solidified the bearish outlook for the token.

The technical structure deteriorated further when PUMP broke below the $0.0035 neckline support level—a critical threshold in the head and shoulders formation. This breach effectively unlocked additional selling momentum, pushing the token lower across subsequent trading sessions. Market structure analysis indicates that sellers remain firmly in control of price action.

Current Market Status

Current data shows PUMP trading at $0.00, with a 24-hour decline of 1.28%. While the token posted a notably stronger 7-day gain of 29.77%, this recovery appears insufficient to reverse the longer-term bearish structure established by the head and shoulders pattern. The 30-day performance reflects the extended weakness, with PUMP down 20.29% over that period.

Price Projection

The head and shoulders breakdown points to a critical price target near $0.00085, representing the measured move completion of the pattern. If this level fails to provide support, further downside cannot be ruled out. Technical momentum indicators remain in negative territory, with bullish recovery strength noticeably absent from the price action.

The confluence of the established head and shoulders formation, broken neckline support, and sustained selling pressure suggests that the path of least resistance for PUMP remains tilted to the downside in the near term.

PUMP-4,46%

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