PUMP rallied more than 20% in late January 2026 before stalling near resistance around $0.0031, a pause that several market analysts interpreted as a healthy consolidation rather than an outright reversal.
Analysts noted that PUMP had broken out from the handle of a larger cup‑and‑handle formation on January 13, with one published projection targeting $0.0045. After the latest rally, the token reclaimed its 100‑day exponential moving average, cited at $0.002930, and then ran into resistance near $0.0031.
Data formed the basis for the prevailing view: the token’s recent gains have been accompanied by technical confirmations, whale accumulation, large buyback programs and a rise in futures activity.
Momentum indicators from late January supported the consolidation thesis. FXStreet reported a bullish MACD flip and an RSI around 59 — comfortably below overbought levels and indicating room for further upside. FXStreet and other commentators suggested that a decisive close above the 100‑day EMA could open targets at about $0.003399 and, on a further leg, $0.004842.
Technical setup for PUMP: breakouts and buybacks
On‑chain activity and corporate demand painted a picture of structural support during the pause. Data reported that a so‑called “smart whale” withdrew 1.34 billion PUMP tokens (roughly $3.31 million) from OKX, a follow‑up to earlier accumulation on December 29. CoinPedia noted a separate whale deposit of 1.42 billion tokens ($4.43 million) into Binance, which was interpreted as an increase in liquidity rather than simple capitulation.
Mitrade announced a $3 million Pump Fund to stimulate activity, and more comprehensive reporting cited cumulative buybacks of $193 million over four months — a level observers argued had helped absorb supply and stabilize dips.
Futures metrics pointed to renewed leverage and retail participation: open interest rose roughly 33% to $235.72 million within 24 hours, funding rates showed a small positive bias (0.0039%), and short liquidations ($939,200) outpaced long liquidations ($108,770). That mix suggested short‑covering and a tilt toward upside risk in the derivatives market.
Investors are now turning their attention to whether PUMP can hold the $0.0030–$0.0035 zone and record a decisive close above the 100‑day EMA; a sustained move above those levels would likely reopen the path to the $0.003399–$0.004842 range cited by analysts, while failure to do so would increase the risk of a deeper retracement.
