Why PUMP Price is Facing Sharp Declines and What’s Next?

Currently, PUMPUSDT is trading at $0.0028, just under the resistance at $0.0029. The altcoin has marked a 20% drop over the past 24 hours, which is one of its largest single-day declines recently. The lack of bullish momentum and increasing outflows suggest that PUMP may continue to struggle.

Given the market conditions, it is likely that PUMPUSDT could fall further. The next support level lies at $0.0024, which would represent another significant loss for investors. If the current trends continue, the altcoin could face even steeper declines, putting its recent lows at risk.

However, if PUMPUSDT manages to reclaim the $0.0029 support level, it could see a bounce back. A successful reclaiming of this level could lead to an attempt to recover toward the resistance at $0.0034, invalidating the current bearish outlook.