PUMP token rallies 30% as price breaks key resistance on Solana

The Solana‑based memecoin PUMP, issued by Pump.fun, surged more than 30% in a week, reclaiming its 50‑day and 200‑day moving averages and testing the 0.618 Fibonacci level near $0.0025. The rally pushed the token into overbought territory, with the Relative Strength Index at 73. A scheduled token unlock of 6.87 billion tokens is set for August 11‑13, and community backlash has arisen over allegations that Pump.fun dismissed staff before their tokens vested.

Technical analysis also notes a breakout above the $0.00225‑$0.00230 resistance zone on August 4, followed by a retest that confirmed a bullish trend. Analysts suggest the price now has a high risk‑to‑reward upside, recommending long positions with stops just below the new support floor around $0.00220.