The cryptocurrency market is once again witnessing a thrilling showdown between bulls and bears. On September 20, two highly watched addresses sold 467 million PUMP tokens, realizing a profit of up to 149%, triggering panic in the market. However, unexpectedly, on the same day, a mysterious large investor bought 1.1 billion PUMP at the high price of 8 million USDC, with an average price of 0.0072 USD. This fierce battle around the price level of 0.007 USD suggests that a significant turning point in market direction may be imminent.

Despite the fierce selling pressure, the bottom-buying behavior of large investors seems to suggest optimism about the future trend of PUMP. This operation may be preparing for the upcoming bullish market. However, if the selling pressure continues, the price of PUMP may still face downward risks in the short term.

From a technical analysis perspective, the trend of PUMP is also concerning. On the 1-hour candlestick chart, the PUMP price is hovering near the lower Bollinger Band (0.0068 USD), which is typically seen as a continuation signal for a downward trend. Currently, the trading price of PUMP is approaching 0.006991 USD, just a step away from the key support level of 0.0068 USD. If it breaks below this level, PUMP could quickly slide to 0.00621 USD, or even as low as 0.0058 USD.

What investors should be more cautious about is that despite the MACD indicator showing a seemingly favorable "golden cross" pattern, the yellow and white lines are still below the zero axis, which is likely a misleading signal. This situation often represents a technical correction after being oversold, rather than a true reversal signal. Only when the MACD firmly stands above the zero axis, and the price breaks through the middle line of the Bollinger Bands, can the arrival of a bullish reversal be confirmed.

Clearing data shows that there are a large number of long liquidation orders at price levels above $0.0075. If the PUMP price rebounds to this area, it may trigger a wave of severe price volatility.

In this complex market environment, investors need to remain highly vigilant, closely follow market trends, and manage risks appropriately. Whether following Large Investors' operations or adhering to technical indicators, it is essential to consider multiple factors comprehensively to make prudent investment decisions.