Pump.fun (PUMP) continues its downward trajectory as December begins, with the token trading below key exponential moving averages (EMAs) on the 4-hour chart. Sellers maintain control, and open interest has fallen to $190 million, marking the lowest level since early summer. This decline indicates reduced leverage and risk appetite among traders. Spot outflows since October further confirm the persistent selling pressure. Market participants are closely monitoring the $0.00240–$0.00237 support zone, as a breach could lead to further declines. Resistance levels at $0.00285 and $0.00318 are crucial for any potential recovery in PUMP's price.