- PumpBTC crashed over 43 percent in hours as panic selling overwhelmed order books and erased bullish momentum despite earlier hype.
- Bearish signals dominate as MACD, CRSI, and moving averages flash red, while key support near $0.10 barely holds under pressure.
- Divided sentiment emerges with large wallets accumulating and retail shaken as trust, liquidity, and resistance near $0.20 weigh heavily.
According to Wu Blockchain, PumpBTC (PUMP) faced a sudden and brutal crash on April 23, dropping over 43% within hours. The sharp decline followed a parabolic rise to $0.23815, now marking the asset’s peak. As of this report, the price hovers near $0.10817. Binance and Bybit futures absorbed most of the trading volume, with spot trading concentrated on Bithumb and Bybit. Panic volume triggered aggressive liquidations, prompting fears of deeper losses. The fall erased several weeks of bullish momentum and shook trader confidence across social platforms. Market signals remain bearish, with momentum indicators and moving averages pointing further down.
Capitulation and Oversold Signals Collide
Aggressive sellers overwhelmed the order books, slamming PumpBTC into a steep nosedive. Technical readings confirm a market under duress. The MACD stays deep in red territory. Momentum oscillators remain weak, and the CRSI shows deeply oversold conditions. However, these oversold readings could spark a short-term bounce. That said, any bounce is likely short-lived unless buying confidence and trust in the asset return quickly.
Besides, social sentiment reveals a sharp divide. Some large wallets and influencers are quietly accumulating. Meanwhile, retail traders remain spooked by liquidity gaps and a lack of visible support. Trading volume peaked during the sell-off, hitting 33.312M and 22.136M at major inflection points. These spikes reflected panic-driven exits and triggered cascading liquidations.
Support Shaken, Resistance Looms at Higher Levels
There is rejection from the $0.23815 high, followed by a fast drop toward $0.10003. This level formed a temporary floor. Small green candles have since appeared, hinting at minor buying activity. Yet, the price remains firmly below key moving averages. All three trend lines – purple, pink, and yellow – slope downward.
Moreover, resistance is now stacked around the $0.20 mark. Market recovery hinges on renewed trust and structural support. Without this, further downside pressure could dominate. Hence, PumpBTC sits at a critical crossroads. A bounce may occur, but it risks fading unless sentiment and support rebound convincingly. The coming days are pivotal for this volatile asset.
