Trader Turns Bearish on Solana-Based Memecoin That’s Exploded 173% in Three Weeks, Updates Outlook on Bitcoin and Dogecoin
A widely followed crypto analyst is suddenly flipping bearish on one red-hot Solana (SOL)-based memecoin. In a new thread, pseudonymous crypto trader Altcoin Sherpa tells his 254,900 followers on X that Pump.Fun (PUMP) may plummet by more than 8% from its current value based on Fibonacci retracement levels, a technical Analysis method used to determine an asset’s support and resistance levels. “PUMP is a great coin, but I’m bearish in the short term. I’m very interested in buying $0.0065 though. Have loads of alerts there.” Source: Altcoin Sherpa/X PUMP is trading at $0.0071 at time of writing, up 173% from its low of $0.0026 on August 28th. The 64th-ranked cryptocurrency by market capitalization is down approximately 11% over the past 24 hours. Next up, the analyst says that he remains bullish on Bitcoin (BTC) and other digital assets despite near-term price volatility. “BTC: choppy price action, slowly pulling back now. Fr...
