Could PEPE reach a new all-time high (ATH) in the second quarter of 2024?

On April 11th, the price of PEPE increased significantly, giving investors hope that it would continue to rise. However, on April 13th, the market crashed and PEPE’s price dropped by more than 11% in the last 24 hours. Despite this setback, there are positive signs for PEPE. The coin’s Chaikin Money Flow (CMF) showed improvement on April 9th and its On Balance Volume (OBV) has remained high over the past week. These indicators suggest that PEPE could still have a bullish rally if investors are willing to wait. Analysts have also noted a bullish symmetrical triangle pattern for PEPE, which could lead to new highs if the coin breaks above $0.00001. It is worth noting, however, that there is growing selling pressure on PEPE, indicated by an increase in coin supply on exchanges and a decrease in supply held by top addresses. This selling pressure could negatively impact the price of PEPE. For PEPE to see a promising rally, it must first surpass the $0.000008, $0.0000082, and $0.0000086 levels. If it manages to break above $0.000009, there is a chance it could reach an all-time high this summer. Conversely, if bears take control, PEPE will need to test support near $0.000006.