- Pump.fun (PUMP) rose 6.29% in 24 hours to $0.002076, trading between $0.001936 and $0.002086 during the session.
- The platform has requested dismissal of a class-action lawsuit in a New York federal court.
While the global crypto market seems to take breath as BTC climbs back to $70K zone, the token linked to Pump.fun recorded a modest rise in the latest trading session, with the price currently trading around $0.002076.
Over the past 24 hours, the token has gained about 6.29%, moving within a relatively narrow intraday range. During this period, the crypto asset recorded a low of $0.001936 and a high of $0.002086, showing moderate volatility as buyers attempted to push the price above the $0.00208 level.
The token’s current rally comes while the platform continues to attract attention due to ongoing legal developments. Pump.fun and several of its officers have filed a motion in a New York federal court seeking dismissal of a class-action complaint filed by memecoin buyers.
The lawsuit, filed earlier in the United States District Court for the Southern District of New York, alleges that tokens created through the platform may qualify as unregistered securities under U.S. law. The company argues that the claims are insufficient and has requested the court to dismiss the case at an early stage.
PUMP Trades in Short-Term Sideways Range
From a technical perspective, the daily chart shows PUMP trading in a short-term consolidation phase after a decline earlier in February. The price is currently positioned slightly above the 9-day and 21-day moving averages, both located near $0.00196, indicating limited short-term upward momentum. A sustained hold above these averages suggests that buyers are attempting to stabilize the price after recent weakness.
(Source: TradingView)
Meanwhile, the momentum indicators remain neutral. The Relative Strength Index (RSI) is around 52, which indicates balanced market conditions without strong overbought or oversold pressure.
If the current positive momentum continues, Pump.fun could test the immediate resistance near $0.00220, followed by a broader resistance area around $0.00240 if buying pressure increases.
If the price fails to hold above the recent crossover of the 9-day and 21-day moving averages, located around $0.00196 and $0.00194, the next key support level is visible near $0.001914, which coincides with the moving average region and recent consolidation zones.
Overall, the market structure suggests that PUMP is currently trading within a sideways range, with whether the price can maintain support above $0.00196 or move toward the next resistance levels in the near term.
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