- BRETT crypto broke free from a symmetrical triangle resistance level.
Metrics painted a bullish picture.
As a seasoned crypto investor with a knack for spotting trends, I’ve been eyeing BRETT [BRETT] for quite some time now. The symmetrical triangle breakout and the bullish pennant formation have always been intriguing patterns to me. And finally, it seems like BRETT has broken free from its consolidation phase and is gearing up for a run towards its all-time high at $0.195.
Since May 15th, Brett [BRETT] has been stabilizing in a symmetrical fashion. This period of stability follows a pullback, which occurred after an increase in demand, when it started trading on larger platforms on April 18th.
It’s intriguing that the memecoin seems to be undergoing a correction yet follows a bullish pennant structure. This bullish pennant is embedded within a larger, symmetrical triangle trend.
Currently, the memecoin has been capturing the attention of its investors. The consolidation period is approaching its conclusion, paving the way for an expansion phase.
On the daily chart, BRETT is exhibiting strong upward trends. After its reversal at the support level of the symmetrical triangle, which was at $0.0815, this memecoin has been surging in a bullish manner.
In simpler terms, Brett successfully escaped the restrictions set by both the bullish flag and triangle at a price point of $0.0963.
At the moment, it appears that the BRETT prices are experiencing tranquil tides, moving steadily upward without any major fluctuations, with the asset aiming to reach its record peak of $0.195.
BRETT crypto: Long position takers gain!
In the past seven days, it’s just the meme coin that has seen a substantial increase of approximately 29%, as indicated by CoinMarketCap data.
Over the past day, BRETT has stood out as one of the top performers, experiencing a significant increase of 18% by the time of the latest update.
The market value of this particular memecoin amounts to a staggering $1.134 billion, placing it 8th in terms of market capitalization when compared to other meme coins.
However, BRETT has been the most performing in all dimensions.
At the moment of reporting, its market capitalization and trading volume expansion, which were 19% and 66% respectively, surpassed the typical growth rates for meme coins, which were 2% and 19% over the past 24 hours.
What tale do the metrics tell?
Based on the current favorable technical signs, it seems that there has been an increase in significant investor activity involving BRETT, as suggested by Santiment’s data.
Approximately 55.83% of the current cryptocurrency supply is held by large investors, or “whales.” This suggests a significant influence that the current market price has on the coin.
Investors are eagerly anticipating this period of growth, as demonstrated by the increased number of them entering the market, a trend that’s clear even to casual observers due to the rise in ‘whale’ transactions.
After examining the social activity data of the memecoin using Santiment, AMBCrypto found a variety of responses.
Even though there was a significant increase in social mentions on September 11th, the frequency of these mentions gradually decreased thereafter.
Read Brett’s [BRETT] Price Prediction 2024–2025
Yet, it’s unlikely that they will fuel further negative momentum for the ongoing BRETT rally, as this might stem from a wider societal trend toward investing in major altcoins within the market.
It’s likely that Brett’s price will surge towards a new record high. The combination of strong technical indicators and on-chain data suggests that reaching $0.195 could happen sooner than expected.
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2024-10-14 23:36