To The Sun Price Hits A Double Bottom: Can The Bulls Regain Momentum?

The To The Sun price soared 48% in the last 24 hours to trade at $0.0007639 as of 3.35 a.m. EST  on a 278% surge in trading volume to $6.9 million.

The To The Sun (SUNPUMP) price soared 48% in the last 24 hours to trade at $0.0007639 as of 3.35 a.m. EST on a 278% surge in trading volume to $6.9 million.

The SUNPUMP price in the 1-hour timeframe focuses on key technical indicators such as simple moving averages (MA), MACD, and RSI.

The current price of SUNPUMP is at $0.0006629, showing a significant drop of 12.65%. The simple moving average (50) is around $0.0008330, and the Moving Average (200) is not visible on the chart, indicating that short-term momentum is weaker than the longer-term trend.

SUNPUMPUSD Analysis Source: Dextools.io

The chart highlights a downward-sloping channel, with the price moving toward the support zone marked in orange, suggesting a possible reversal point.

The price has consistently bounced between this channel’s lower and upper boundaries. The current support level is around $0.0006629; if the price fails to hold this support, it could lead to further downside risks.

The MACD shows a bearish crossover, with the MACD line crossing below the signal line. This indicates bearish momentum, and the histogram confirms the decline in buying pressure.

The RSI is currently at 32.22, which is in the oversold territory. This signals that the asset is undervalued and could experience a reversal for the Sun price if buying pressure increases.

The reward-to-risk ratio is visually represented, with a target price of around $0.001400, suggesting a potential upside. However, the downside risk could lower the price if the support zone fails.

In the short term, if the price holds the support zone around $0.0006629, there is potential for a rebound, targeting the channel’s upper boundary near $0.001212 to $0.001400.

However, if the price breaks below this support, further declines may be expected, potentially pushing the price towards $0.000500. Monitoring the RSI and MACD for signs of reversal will be crucial.

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