Pump.fun/USDC Market Overview – 2025-11-07

Summary• Price consolidated in a tight range after an initial upward breakout, with a closing decline.• RSI and MACD show mixed signals with potential overbought levels in the morning.• Volatility spiked during midday activity, with volume peaking during key price levels.

Market Summary and Open/Close Metrics

Pump.fun/USDC (PUMPUSDC) opened at $0.003699 on 2025-11-06 12:00 ET and reached a high of $0.003857, before falling to a low of $0.003651 during the session. It closed the 24-hour period at $0.003814. Total volume amounted to 336,169,642.00 USDC, with notional turnover reflecting high engagement during midday and early evening hours.

Structure & Formations

Price activity formed a bearish consolidation pattern during the afternoon, following a strong morning breakout attempt. A key resistance level appears to have formed near $0.00382–385, as buyers struggled to push past this range. A notable bullish engulfing pattern occurred briefly at $0.00383–385, though it failed to hold. In the late evening and overnight hours, price found support at $0.00378–382, which appears to be a critical short-term floor.

Moving Averages and Momentum

On the 15-minute chart, the 20-period and 50-period moving averages are in close alignment, indicating a period of consolidation. The 50-period line is currently near $0.00377, slightly below the current price level. While this suggests a possible shift toward bullish momentum, the failure to break above the 382–385 level may indicate a lack of conviction. The RSI approached overbought territory in the morning but has since retreated into neutral territory. MACD lines show a mixed signal—bullish in the early session but bearish in the latter half—suggesting that momentum is not aligned with price.

Bollinger Bands and Volatility

Bollinger Bands reflect a period of volatility expansion during the midday and early evening hours, with price frequently touching the upper band. Overnight, volatility decreased slightly, and the price remained within the bands, suggesting a return to more normal volatility. The bands currently suggest a range of $0.00368–0.00386, which aligns with observed price behavior.

Volume & Turnover Dynamics

Volume spiked significantly during the midday and early evening hours, aligning with key price levels. The highest volume occurred at $0.00378–382 and $0.00383–385, reflecting attempts at both support and resistance. Notional turnover also spiked during these hours, indicating heightened participation. The overnight session saw a sharp drop in volume, consistent with reduced market activity outside of peak trading times. A divergence between price and volume is notable near $0.00385, where volume failed to confirm a breakout.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute move from $0.003651 to $0.003857, key levels of interest lie at the 38.2% retracement ($0.003759) and 61.8% retracement ($0.003719). These levels appear to be holding as short-term support, particularly in the overnight session. On the daily chart, a major retracement level appears near $0.00378, which is also showing signs of consolidation.

Backtest Hypothesis

The data system could not recognize the PUMPUSDC symbol to perform the Bullish Engulfing 1-day-hold backtest. However, based on the observed price behavior, a potential backtest strategy might involve identifying bullish engulfing patterns within the $0.00373–375 range, where price showed early morning strength, and holding for a one-day period. Given the current consolidation and mixed momentum signals, a backtest should include a trailing stop loss to mitigate risk during bearish consolidation. The failure to hold above $0.00382 suggests that buyers are hesitant, and any test of this level again could provide a clearer signal for a potential breakout.