PUMP price compresses below descending trendline — will new Cashback Coins fuel rebound?

💡 DMK Insight

PUMP’s recent price action below a descending trendline signals potential volatility ahead. With PUMP trading at $0.002162 and down 3.2% in the last 24 hours, traders should be cautious. The new cashback model could shift incentives, attracting more retail participation, but it also raises questions about sustainability. If the price breaks below the current support level, it could trigger further selling pressure. Watch for a potential bounce at this trendline, as it could indicate a reversal or a deeper correction depending on volume and market sentiment. Keep an eye on related tokens in the cashback space, as they might react similarly, amplifying the effects across the board. Here’s the thing: while the cashback model could boost short-term interest, it’s crucial to assess whether it leads to genuine demand or just speculative trading. Monitor trading volumes closely; a spike could signal a breakout or breakdown. The next few days will be critical in determining PUMP’s trajectory.