PUMP continues to rise to the sky? A further increase of 15% is waiting ahead.

After surging over 20% in just one week, PUMP still shows no signs of cooling down. Although the increase over the past 24 hours was only 2.3%, this token continues to demonstrate remarkable strength, especially against the backdrop of a market that is largely showing signs of stagnation.

This raises an important question: Is a new breakout being nurtured or are these the final stages of the current upward trend?

Let's dive deep into on-chain data, potential liquidation clusters, and chart patterns to identify clues that may reveal the next direction of PUMP.

Whales and KOLs are still actively accumulating PUMP

Although the price of PUMP is currently in the accumulation phase just below the important resistance level of $0.0035, the behavior of large wallets and influential figures in the crypto space shows a completely different picture: they keep buying in.

According to data from Nansen, the top 100 wallet addresses currently hold 948.08 billion PUMP, an increase of 0.28% in just the past 24 hours. Notably, public wallets — often associated with veteran traders, KOLs, and well-known founders in the market — have increased their holdings to 12.38%, owning a total of 601.56 million tokens.

This is a sign that cannot be ignored: those who understand the game seem to be betting that this rally is not over yet.

PUMP accumulated by KOLs and traders | Source: NansenWhat is even more noteworthy is that whales have quietly accumulated throughout the past week. In the last 7 days, the holdings of whales have increased by 25.24%. This is not a sign of weakness but rather an expression of strong confidence.

These big players are buying in when prices are strong, indicating that they still see room for growth in the near future.

PUMP accumulated by whales | Source: NansenSupporting this view is the derivatives market. The Long/Short ratio has clearly shifted to an upward trend in the past few days, maintaining above 1.05.

The Long/Short ratio of PUMP | Source: CoinglassThis means that more and more traders are opening Long positions than Short. At the same time, the increasing leverage trend is in agreement with the activity of smart money on-chain.

The liquidation map shows where Short positions can be "liquidated"

The liquidation map from Hyperliquid also supports the bullish outlook. With the current price at $0.0034, PUMP is approaching a dense cluster of Short positions.

The largest short liquidation cluster starts from the level of $0.0035 and is denser in the range from $0.0035 to $0.0039 — this is the area where short orders are at risk of being "swept away".

Liquidation Map PUMP | Source: CoinglassAlthough the total OI Short is valued at approximately $1.92 billion, Long positions currently amount to $5.48 billion — nearly three times more. Despite the fewer number of Short orders, their massive scale makes these positions vulnerable. If PUMP surpasses the $0.0035 mark, it could trigger a chain reaction of liquidations, forcing Short orders to close, thereby pushing the price even higher.

These liquidation thresholds are not just numbers. They are "pressure points" in the market and nearly perfectly align with the price action model forming on the chart.

PUMP aims for breakout from the ascending triangle pattern

On the 2-hour time frame, the price of PUMP is trading within a rising triangle pattern. This setup often concludes with an upward breakout, especially when supported by higher lows and accumulation activity — consistent with what we are currently witnessing.

PUMP Triangle Model | Source: TradingViewNote that there have been two downward moves that pierced the lower trendline, but both were just wicks, not full candles closing below. According to standard technical analysis principles, a valid breakout of a triangle pattern usually requires a clear full candle close below the trendline, accompanied by confirming volume. Since that has not occurred, the bullish triangle pattern is still considered valid.

The important resistance level that needs to be overcome is around the $0.0035 mark — where there has previously been an attempt at a breakout. This price level also coincides with the liquidation cluster we just mentioned, creating a "double trigger point" for bullish momentum.

PUMP price analysis | Source: TradingViewIf this resistance level is broken, the next nearest resistance will be $0.0038, followed by $0.004. The $0.0038 level corresponds to a 15% increase from the current price of $0.0034. This is also a significant Fibonacci extension area and a round psychological number, which often acts as a "resistance magnet." If the upward momentum continues past $0.004, the next target will be around $0.0046 — corresponding to an increase of about 35% from the current price.

However, traders also need to monitor the possibility of a rejection. If the PUMP cannot maintain support at the upward trend line around $0.0033 and is broken, the current bullish structure will be invalidated. This could open up the possibility of a deeper correction towards the $0.003 area or even lower.

Dinh Dinh