Pump.fun Price Forecast: Bullish signs support long-term upside

• Pump.fun edges lower on Wednesday, following a nearly 13% surge the previous day.
• Retail demand for PUMP builds, with Open Interest reaching a seven-month high of $258.62 million. 
• Network data shows a steady increase in TVL, which has reached a record high amid elevated user activity and revenue.

Pump.fun (PUMP) is down 3% on Wednesday, easing after nearly 13% gains the previous day. PUMP derivatives point to increasing leverage-driven demand as Open Interest rises to a seven-month high of $258.62 million. Network data shows that Total Value Locked (TVL) has hit a record high of 3.34 million SOL, indicating a steady rise in user adoption.

The technical outlook for PUMP is mildly bullish amid elevated buying pressure and increasing odds of a Golden Cross pattern. 

Retail speculation is on the rise

Pump.fun regains retail strength, supporting its more than 40% rise so far this month. CoinGlass data shows the PUMP futures Open Interest (OI) is at its all-time high of $258.62 million, up from $216.74 million the previous day, indicating a surge in positional buildup. Typically, a surge in the notional value of the active perpetual contracts amid an upside recovery implies a bullish bias among traders.

Corroborating the buy-side dominance, the funding rate is at 0.039%, up from -0.0036% the previous day, suggesting a shift among buyers toward long positions.

Pump.fun TVL hits record high driven by activity and revenue growth

Pump.fun continues to see steady growth in user adoption, driving revenue growth. DeFiLlama data shows that the PUMP TVL has increased to 3.34 million SOL, with user deposits continuing to rise steadily. At the same time, the protocol collected 23,706 SOL in revenue on Tuesday, bringing the weekly total to over 47,500 SOL so far. The collected revenue was 151,929 SOL last week, the highest in the last 18 months. 

Similarly, active addresses surged to 81,429 last week, from 74,438 the previous one, reaffirming increased user demand.

Technical outlook: Will PUMP extend its gains?

Pump.fun is trading above $0.00300 at press time on Wednesday, extending a bullish near‑term bias as price holds above both the 50-day and 200-day Exponential Moving Averages (EMAs) at $0.002214 and $0.00227, respectively. In addition, the EMAs are on the verge of forming a Golden Cross, which could signal a bullish trend reversal.

Momentum on the daily chart suggests firm buying pressure, as the Relative Strength Index (RSI) near 68 suggests strong but slightly stretched upside momentum. At the same time, the Moving Average Convergence Divergence (MACD) hovers above the signal line, showing steady bullish momentum.

Looking up, the immediate resistance for PUMP aligns with the December 3 high of $0.003399. A decisive close above this level could stage a larger uptrend for PUMP.

On the downside, initial support is seen at the 200-day EMA at $0.002227, reinforced by the 50-day EMA around $0.002214.

(The technical analysis of this story was written with the help of an AI tool. Know more.)