$PUMP Breakout: Analyst Says Launchpad Token Is a No-Brainer Bet
The Pump.Fun token has been under pressure for weeks but has seen a recent move that's got traders taking another look. A well-known chart analyst recently called $PUMP a standout pick among launchpad tokens, saying it's an easy top pick in its category.
This comes after the analyst shared a bullish take on $PUMP, pointing to a chart showing price curling up and away from a descending trendline, projecting a sharp move higher if the setup plays out. The analyst argued that holding launchpad tokens is a smart move for the current cycle.
The Pump.Fun token's daily chart shows price breaking above the upper boundary of a descending channel that has been in place since the August highs near $0.0055. If $PUMP confirms the channel breakout and holds above the upper boundary, it could push higher towards $0.004563 first.