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Pump.fun (PUMP) continues its bearish trend as a large-scale token unlock coincides with an exit of retail investors.
On February 10 (local time), the price of PUMP fell by about 2% intraday, extending its corrective phase after a 4% drop the previous day. After reversing from the February 6 peak of $0.002201 and pulling back from a key resistance level, the token has declined for four consecutive days.
A major source of downside pressure is a sizable monthly token unlock. Data show that around 10 billion PUMP tokens are set to be released to the community and ecosystem reserves in the early U.S. session. Valued at more than $20 million, the unlocked supply could add to selling pressure amid the ongoing weak market.
Fading retail investor interest is another headwind. Futures open interest in PUMP has fallen to $161.95 million, indicating a clear contraction in leverage-based trading demand. This suggests that the flow support needed to sustain a short-term rebound is weakening.
From a technical perspective, momentum remains negative. After losing the psychological support at $0.002000, PUMP may test support at $0.001886. This level aligns with the four-hour chart low from February 5, and a break below it could extend losses toward the December 29 low at $0.001775. The relative strength index is sliding below the neutral line near 40, while the MACD is reinforcing bearish signals.
A short-term turnaround would require a recovery above $0.002000. Reclaiming this level could open the door to a move toward $0.002213, where the 50-period exponential moving average sits, and potentially a retest of the February 6 high. However, as long as large unlock volumes and retail outflows persist, the sustainability of any rebound appears limited.
*Disclaimer: This article is for investment reference only, and no responsibility is taken for investment losses based on its content. The information should be interpreted solely for informational purposes.*