$PUMP has experienced a volume-driven decline and has already broken below a key support level. An 11% drop accompanied by a trading volume of 177 million clearly indicates that selling pressure is dominant. Currently, the most noteworthy aspect is that the open interest remains high, which often suggests that bulls are facing pressure to liquidate their positions.

The market logic is straightforward: a price decline combined with high open interest typically triggers a chain reaction. At present, there is a lack of effective buying support, so short-term rebounds are limited, and the bearish momentum is expected to continue into the next liquidity zone.

If you are bearish on this trend, you might consider entering short positions gradually between 0.00270 and 0.00275, with a stop-loss set at 0.00285. The first profit target is around 0.00250, and if the price breaks further downward, the 0.00230 range is also within expectations. The key is to observe whether trading volume can be sustained and whether there are clear signs of support.