Crypto Market Retraces Gains Amid Ceasefire Uncertainty
- Market Rally and Reversal: The total crypto market cap surged over 3% on Wednesday due to ceasefire news between the US and Iran, but reversed sharply as Iran accused the US and Israel of violating the agreement, leading Bitcoin to drop 1.02% and Ethereum by 3.1%.
- Strait of Hormuz Closure: Despite initial optimism for the reopening of the Strait of Hormuz, it remains effectively closed with near-zero merchant traffic as of Thursday morning, with Iran threatening to destroy any unauthorized vessels, heightening market concerns over oil prices.
- Negotiation Uncertainty: Iran's Parliament Speaker cited three violations of the ceasefire, undermining confidence in the upcoming Islamabad talks, which are still scheduled but labeled “unreasonable” by Iran, adding to market instability.
- Potential Price Impact: The interaction between oil prices and Friday's US CPI data will significantly influence crypto market direction; if oil exceeds $115 and CPI data is unfavorable, further declines in crypto prices are likely, while a favorable scenario could restore gains from Wednesday.
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Technical Analysis for PUMP
Technical Sentiment Analysis for Pump.fun (PUMP). As of , Pump.fun (PUMP) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 1 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for PUMP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, PUMP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Pump.fun (PUMP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00127 | 0.00148 | 0.00163 | 0.00184 | 0.00199 | 0.0022 | 0.00235 |
| Fibonacci | 0.00148 | 0.00161 | 0.0017 | 0.00184 | 0.00197 | 0.00206 | 0.0022 |
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