Technical Formation Signals Continued Pressure for Pump.fun (PUMP) as Head and Shoulders Pattern Validates Downtrend

Market analysis reveals that Pump.fun (PUMP) is experiencing intensified bearish momentum, with a head and shoulders pattern on the daily timeframe validating the ongoing downtrend. Recent market data shows PUMP trading near critical support levels, with the price having declined significantly against the backdrop of broader market headwinds.

Over the past month, PUMP has recorded a 20.69% loss, though recent weekly performance shows a modest rebound of 25.45% in the last seven days. However, this recovery appears insufficient to reverse the established downtrend confirmed by the technical formation.

The breakdown below the $0.0035 key support level has intensified selling pressure, with bearish control remaining firmly established. Market participants are now eyeing the $0.00085 projection as a potential target zone if the current bearish momentum sustains. CoinsProbe data indicates that sellers continue to dominate price action, while bullish momentum remains exhausted.

This technical setup underscores the vulnerability of PUMP's current price structure, with the head and shoulders pattern serving as a critical bearish confirmation. Traders monitoring this asset should remain cautious, as the technical landscape suggests further downside risk unless significant buying pressure emerges to invalidate the established pattern.