The cryptocurrency market is seeing a slight pullback following an impressive rally that pushed Bitcoin (BTC) to a new all‑time high of $126,000 before cooling near $121,000. Meanwhile, Ethereum (ETH) has slipped to $4,300, adding pressure to several altcoins — including Pump.fun (PUMP).
PUMP is down by over 4% today, extending its weekly decline to 20%. However, beneath this short‑term weakness, a potential bullish reversal structure is emerging — a harmonic pattern that could signal a rebound on the horizon.
Potential Harmonic Pattern Signals Upside Move
On the daily chart, PUMP appears to be forming a Gartley harmonic pattern — a technical formation known for identifying reversal zones where price often bounces back after completing its final leg (point D).
The structure began with a sharp drop from X ($0.008975), followed by a retrace to A, a rally to B ($0.007531), and then the current correction forming the BC leg. The token is currently trading around $0.0054, suggesting it is nearing the completion of the BC leg of the pattern.
What’s Next for PUMP?
If this Gartley pattern continues to unfold, PUMP may dip slightly further toward $0.005148, aligning with the 0.886 Fibonacci level — a common reversal zone for this pattern.
A rebound from this area, coupled with a reclaim of the 20‑day moving average near $0.006071, could confirm the start of a new bullish phase, potentially driving the price toward $0.008143 — about 50% higher than current levels.
However, caution remains key as the harmonic structure is still unconfirmed. Traders should wait for clear signals of stabilization or reversal near the C‑point support zone before positioning for upside.