PUMP Open Interest Slumps 74% as Price Stays Range-Bound

• PUMP trades in a tight $0.0039–$0.0046 range, signaling consolidation before a breakout.
• Futures open interest has fallen to $329M, showing reduced speculative leverage in PUMP.
• Spot inflows of $1.04M suggest cautious re-accumulation amid a potential bullish shift.

Pump.fun (PUMP) continues to trade within a tight range, showing signs of exhaustion after weeks of declining momentum. The token, which once traded near $0.00757, has now settled between $0.0039 and $0.0046. This extended consolidation indicates uncertainty among traders as both bullish and bearish forces balance out. Significantly, the tightening Bollinger Bands suggest an imminent breakout, with volatility likely to return soon.

Sideways Movement and Technical Compression

The PUMP/USDT 4-hour chart shows a prolonged sideways phase following a sharp correction from early September highs. The token remains below the 200-EMA, confirming a broader bearish bias. 

However, shorter EMAs (20 and 50) are beginning to flatten, which may signal early attempts to stabilize. Moreover, the compression between $0.00400 and $0.00480 reflects a market preparing for direction. A breakout from this range will likely define PUMP’s next trajectory.

Key structural supports lie between $0.00350 and $0.00380 levels that align with the lower Bollinger Band and previous mid-October lows. Maintaining these zones will be critical to prevent a retest of $0.00313. On the upside, reclaiming $0.00483 could ignite fresh buying pressure, while a sustained move above $0.00535 may confirm a short-term bullish reversal.

Derivatives Activity Suggests Reduced Speculation

Open interest data for Pump.fun futures paints a cautious picture. After peaking near $1.26 billion in mid-September, it has dropped to about $329 million by November 10. This steady decline mirrors the token’s price retracement, signaling reduced speculative appetite and a shift toward neutral sentiment. 

Besides, failed attempts to push open interest above $600 million in late October indicate that leveraged traders remain cautious. Unless trading volume and open interest rise in tandem, volatility may stay subdued in the near term.

Flows Indicate Cautious Re-Accumulation

Spot flow activity further reveals mixed market behavior. After strong inflows exceeding $20 million in July, PUMP experienced alternating inflow and outflow patterns. October saw intensified selling pressure, coinciding with dips below $0.005. 

However, recent data show a modest $1.04 million inflow on November 10, reflecting tentative re-entry by buyers. Consequently, this may mark the beginning of a stabilization phase as investors cautiously rebuild positions ahead of a potential breakout.

Related: Can PUMP Defy Market Fear and Triple by Halloween? Whales, Platform Activity Signal Yes

Technical Outlook for Pump.fun (PUMP) Price

Key levels remain well-defined heading into November, with PUMP consolidating tightly after a steep retracement from $0.00757.

• Upside levels: $0.00483, $0.00535, and $0.00588 stand as immediate hurdles. A close above these zones could unlock momentum toward $0.00663 and possibly $0.00757.
• Downside levels: $0.00400 serves as the first defensive zone, followed by $0.00380 and $0.00350 both marking the lower Bollinger Band region and mid-October base. Sustained weakness below $0.00350 may expose deeper retracement toward $0.00313.
• Resistance ceiling: $0.00588–$0.00663 (EMA cluster) remains the key area to flip for medium-term bullish continuation.

The broader structure indicates that PUMP is compressing within a symmetrical range, where volatility contraction could precede a decisive breakout in either direction. The tightening Bollinger Bands, declining open interest, and neutral RSI readings suggest the market is preparing for a potential expansion phase.

Will Pump.fun Break Out Soon?

PUMP’s short-term direction depends on whether bulls can defend the $0.00400–$0.00380 base long enough to reclaim the $0.00483 resistance. If momentum strengthens with renewed inflows and higher trading volumes, the token could revisit the $0.006 zone, where major EMAs converge. Conversely, failure to hold $0.00400 may confirm a continuation of the broader downtrend, exposing lower supports.

For now, Pump.fun remains in a critical accumulation phase. The narrowing price range and fading derivatives activity point to an imminent volatility shift. A confirmed breakout, backed by expanding open interest, will likely set the tone for the next directional move heading into late November.

Related: Pump.fun Acquires Padre for Faster Multi-Chain Trading on Solana and EVM