PUMP Price Extends 85% Rally as Bulls Eye Retest of ATH

The first week of September has turned into a breakout phase for PUMP crypto. After trending upward in August, the token has extended gains by more than 85%, making the PUMP price today one of the standout performers in the altcoin market. With technical patterns aligning and fresh developments from the project, traders are eyeing a possible push toward the $0.0069 ATH.

Bullish Momentum Builds from EMA Cross In PUMP Price

The month began with strong bullish momentum. PUMP/USD price chart showed a short-term EMA bullish cross, with the 20-day EMA piercing above the 50-day EMA. This signal was confirmed as the price pushed through the rising wedge’s upper border, creating room for an extended rally.

On September 5, this breakout coincided with a major update from the project’s ecosystem. A new collaboration between InsightX and Pump.fun further strengthened bullish sentiment, fueling optimism that the PUMP price USD could retest its highs.

Double Bottom Formation Adds to Optimism

Beyond just the wedge breakout, a tilted double bottom pattern has also been spotted on the daily chart. The neckline of this pattern closely aligns with the wedge’s upper border, reinforcing the bullish case. 

If PUMP attempts a pullback to retest and hold above this neckline, a sharp move higher is possible.

However, if the neckline breaks to the downside below $0.004200, bearish momentum could gain traction. This level is critical support, and maintaining it will be key for the current rally to continue.

Indicators Signal Retest, but Caution Lingers

Momentum indicators such as the CMF, MACD, AO, and RSI are all in bullish support for the PUMP/USD price for another upward leg. These combine to suggest demand is building and could fuel another breakout in the sessions ahead.

At the same time, Ali Martinez confirms the pullback scene on the daily price chart might manifest, as rising short-term caution has entered the market. 

Profit-taking signals, such as a TD Sequential sell setup, hint that minor selling pressure could emerge. Yet, the PUMP price forecast hints that the intensity of this pressure will depend on broader market conditions, but as long as it holds above $0.004200, the bullish bias remains intact.

With the combination of bullish technical structures and supportive indicators, traders are now closely watching whether the token can revisit its previous peak. If demand continues to increase around the tilted neckline, PUMP price prediction suggests a likely retest of $0.0069 this September, keeping the bullish trend active for PUMP crypto.