If the price of PEPE crosses the 000001 USD mark, investors may see prices reach new highs.
Indicators have shown that selling pressure on #meme coins is intensifying.
On April 11, the price of #PEPE #rose sharply, gaining bullish momentum. Investors were hoping for a successful breakout and PEPE would reach new highs in the coming weeks.
However, things did not go according to plan, and the market collapsed on April 13.
After a meteoric rise in price, the market crash caused PEPE to fall by more than 11% in the last 24 hours.
According to CoinMarketCap, at the time of writing, the meme coins were trading at $0000005219 with a market capitalization of over $2.2 billion.
A few days ago, AMBCrypto reported that PEPE has overtaken Optimism [OP] in terms of market capitalization.
AMBCrypto's look at TradingView's data points to several bullish indicators. The cash flow (CMF) of the Chaikin meme recorded an increase on April 9.
Additionally, on-balance sheet volume (OBV) has remained high over the past seven days, suggesting that PEPE could turn bullish before the market collapses.
If investors remain patient, we could witness a massive bullish rally in PEPE as the meme coin prices move in a bullish symmetrical triangle pattern.
Crypto analyst Tony recently posted a tweet highlighting this bullish pattern. He noted that if PEPE successfully breaks through the $000001 mark, the coin's price could reach new highs.
To find out what PEPE's immediate target is, AMBCrypto checked the data from Hyblock Capital. The results showed that the clearing of meme coins increases sharply around $BTC Therefore, to start promising growth, PEPE must first rise above this mark and then to the $0.0000082 and $0.0000086 levels.
AMBCrypto checked the daily chart of PEPE and found a target that PEPE could reach this summer if it manages to break through the aforementioned high liquidity zone in the coming weeks.
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