PUMP gains more than 21% over the past week and trades near $0.00178. The 4-hour chart completed an inverse head and shoulders pattern and already reached its measured target. The daily chart
PUMP, the token tied to the Solana memecoin launchpad of the same name, trades near $0.00178 at the time of writing, up more than 21% over the past seven days and over 45% from the $0.001223 low it printed on June 26. The rally pushed price through the neckline of an inverse head and shoulders pattern on the 4-hour chart and delivered the pattern’s measured target, while on the daily chart PUMP remains below its 200-day moving average inside a downtrend that began at the January 28 cycle high of $0.003362. The token’s market capitalization sits around $707 million.
The left shoulder formed on June 17 near $0.0014, followed by the head on June 26 at $0.001223, the deepest point of the correction and the cycle low for the token. The right shoulder printed between June 29 and July 1 at a nearly identical $0.0014 level, closing out the pattern’s symmetry.
Chart analysis by Alexander Stefanov (@alexandertradenews) The neckline, drawn across the two reaction highs flanking the head, sat around $0.0015, and price closed decisively above it in early July. The measured target, calculated from the distance between the neckline and the head projected upward from the breakout, pointed to roughly $0.00178, a level PUMP has now reached and slightly exceeded. The 50-period moving average on this timeframe crossed above the 200-period average during the recovery, and the 14-period RSI sits at 69.86, close to but not yet fully inside overbought territory.
Zooming out changes the picture considerably. PUMP’s daily cycle high came at $0.003362 on January 28, and the subsequent decline carved out a June 26 low that measures slightly lower on a daily basis, around $0.00115. A descending trendline connecting the January peak to the lower highs of March through May remains unbroken overhead.
Chart analysis by Alexander Stefanov (@alexandertradenews) Applying a Fibonacci retracement to the January-to-June decline puts the 23.6% level at $0.001671, already reclaimed. The next test sits at the 38.2% retracement, $0.001994, which lines up almost exactly with the 200-day moving average at $0.001909. The 50-day moving average, at $0.001517, has already been reclaimed, while the 200-day average remains above current price. The broader trend on this timeframe is technically still bearish. The daily RSI reads 63.27, above its own moving average of 53.13 and above the neutral 50 line.
Three separate technical methods now point to the same overhead resistance band: the wider version of the 4-hour head and shoulders target near $0.00199, the daily 38.2% Fibonacci retracement at $0.001994, and the daily 200-day moving average at $0.001909. A close above this zone would put PUMP back above its own 200-day moving average for the first time since the January-to-June decline began, arguably the more meaningful technical milestone of the two, since the shorter-term pattern has already delivered on its target.
TimeframeLevelPriceStatus4hHead / cycle low$0.001223June 264hNeckline~$0.0015Broken, closed above4hMeasured target~$0.00178Reached1DCycle high$0.003362Jan 281DCycle low~$0.00115June 261D23.6% Fib$0.001671Reclaimed1D38.2% Fib$0.001994Next resistance1DSMA 50$0.001517Reclaimed1DSMA 200$0.001909Still overheadFailure to clear the zone would leave the rebound looking like a strong bounce inside a still-intact downtrend. No reversal is confirmed yet. The real test comes over the sessions ahead as price approaches $0.0019 to $0.002.
Lookonchain, citing Arkham data, reported on July 18 that pump.fun transferred and sold another 81,711 SOL, bringing cumulative sales since the platform’s launch to 4,738,536 SOL at an average price of $169 per SOL.
Pump fun(@Pumpfun) sold another 81,711 $SOL($6.15M) again today!
In total, https://t.co/C909I8882s has sold 4,738,536 $SOL($800.96M) at an average price of $169.https://t.co/kyztoJLCjtpic.twitter.com/N4yfRmx3YV
— Lookonchain (@lookonchain) July 18, 2026
It matters to separate the pump.fun platform from the PUMP token itself. The fees the platform earns from token creation, bonding-curve trading and migrations to PumpSwap accrue in SOL, Solana’s native asset, not in PUMP, so the exchange deposits to venues like Kraken affect SOL supply directly rather than PUMP’s. The practice has run consistently since early 2024.
MetricValueSOL sold on July 1881,711 SOL (~$6.15M)Cumulative sales since 20244,738,536 SOLTotal sale value~$800.96MAverage sale price$169 per SOLApart from these direct sales, pump.fun routes a large share of its revenue toward buybacks of the PUMP token itself, a mechanism introduced after the token’s 2025 launch. Sustained fee activity, of the kind these weekly SOL sales indirectly reflect, tends to be read as indirect support for PUMP demand through that channel, even though it is not directly tied to the specific transfers to Kraken.
For holders and traders tracking PUMP, the $0.0019 to $0.002 zone remains the reference point over the coming sessions. A daily close above $0.001994 on above-average volume would confirm the break above the 200-day moving average and open the path toward the next Fibonacci level at 50%, $0.002255. A rejection from the zone would shift attention back to $0.0015 to $0.0017, the area of the former neckline and the reclaimed 23.6% level, as a potential support zone on a pullback. The daily MACD line remains above its signal line with a positive histogram, which for now gives no sign of momentum turning over. The combination of a near-overbought 4-hour RSI and a still-unbroken daily downtrend line, though, leaves enough reason for caution ahead of a confirmed close above the resistance zone.
Even a clean close above the $0.0019-$0.002 zone would only retrace a little over a third of the full January-to-June decline. PUMP’s cycle high of $0.003362 to its cycle low of roughly $0.00115 spans a drop of nearly 66%, and reclaiming the $0.002 area recovers only about 38% of that range. The token would still trade close to 40% below its January peak even on a successful break of the resistance band, a reminder that this week’s rally is repairing a small part of a much larger drawdown rather than reversing it outright.
The post PUMP Price Jumps 21% This Week, But the Daily Chart Still Warns appeared first on ETHNews.
