The cryptocurrency market has shown a minor resurgence today (July 20), yet the best-performing asset (from the top 100 club) isn’t Bitcoin (BTC) or Ethereum (ETH), but Pump.fun’s native token, PUMP.Meanwhile, some believe this may not be just a temporary price spike but the beginning of a much more substantial rally.What Comes Next?PUMP registered a 20% daily increase, reaching approximately $0.002, its highest level since mid-May. Its market capitalization soared to nearly $800 million, making it the 71st-biggest cryptocurrency.PUMP Price, Source: CoinGeckoOne potential catalyst for the solid performance could be the increased interest from popular industry participants. Lookonchain revealed that the well-known crypto trader and influencer Ansem bought PUMP with 1,500 SOL (worth around $115,000), while another anonymous individual opened a $1.5 million long position with 10x leverage.Crypto X is now rammed with analysts who believe PUMP is on the verge of a further jump. Crypto Patel claimed the token has confirmed a high-timeframe breakout, indicating a potential 200% upside.X user 0xNeena opined that a decisive push above $0.002 could unleash the next wave upward, while Greeny went even further, suggesting this might mark the beginning of a bull run that may stretch into 2027.Captain Faibik also chipped in, forecasting that PUMP could soon explode to around $0.0047, thus reaching its highest point since November last year.Mind the Potential RisksIn an environment dominated by sellers and a bear market that has shattered investor optimism, it’s worth remembering that PUMP’s resurgence could be short-lived. Over the past few months, numerous altcoins have posted revivals, only to head south by double digits within days, sometimes even hours.PUMP’s Relative Strength Index (RSI) should also serve as a warning. Its ratio has risen above 70, meaning that the token has entered overbought territory and could be due for a correction. The technical analysis tool ranges from 0 to 100, and readings below 30 are considered buying opportunities.PUMP RSI, Source: TradingViewThe post PUMP Climbs to a 2-Month High: Key Catalysts and What’s Next? appeared first on CryptoPotato.