- BRETT clocked a new high as the price regained bullish momentum after a bullish flag.
- Why it could be due for more upside in December and a push into the top 50.
As a seasoned crypto investor with a knack for spotting promising projects and navigating market trends, I find myself intrigued by the meteoric rise of BRETT [BRETT]. This memecoin has proven resilient in the face of market volatility, demonstrating robust bullish momentum that could potentially propel it into the top 50 coins by market cap.
To start off December, the Brett memecoin is showing signs of optimism, which might propel it towards becoming one of the top 50 cryptocurrencies in terms of market capitalization.
The memecoin’s price action just pushed into a new ATH, but can it sustain this momentum into 2025?
At the moment of this writing, BRETT had surged more than 11% within the past 24 hours, reaching an all-time peak of $0.22 – a brand new record for this popular memecoin.
This performance was courtesy of the robust bullish momentum that BRETT achieved in November.
Over the past four weeks, the value of this meme-based cryptocurrency surged by an impressive 164%. Interestingly, from mid-November until the 29th, there was a pause in the bullish trend, resulting in what appears to be a ‘bull flag’ formation.
The last two days’ performance suggests a breakout of a bull flag pattern, which could lead to another upward trend.
A bullish flag breakout suggests that BRETT might be about to experience a prolonged bullish trend in December, with the possibility of this upward momentum intensifying if the memecoin gets listed on Coinbase and Binance, potentially leading to even more growth.
BRETT joins the top 60 cryptos by market cap
Due to Brett receiving substantial financial inputs, its market value skyrocketed to an impressive $2.21 billion, which placed it at number 60 on CoinMarketCap’s ranking.
remarkable accomplishment, given it hasn’t been officially added to major cryptocurrency trading platforms yet.
In the future, if Binance and Coinbase decide to list memecoin BRETT, this action would likely increase its liquidity. Such an event could potentially catapult BRETT into the group of the top 50 cryptocurrencies by market capitalization.
Could we say instead: Is it likely that BRETT will face increased selling in the near future due to its highly bought condition at the moment, possibly leading to a price drop?
However, for now, the bullish flag underscores more potential upside than downside.
There was a substantial interest from the derivatives market for BRETT, as its Open Interest reached an all-time high of $140.94 million over the past 24 hours, marking a new record.
The surge in Open Interest may have also included shorts. For example, shorts accounted for 51% of the total positions, while longs accounted for 48.9% in the last 24 hours.
Read Brett’s [BRETT] Price Prediction 2024–2025
This meant that bearish expectations were on the rise with the recent new highs.
An increase in short positions could suggest that a large number of those positions are being closed (liquidated), which might be driving prices even higher. In the past 24 hours alone, over half a million dollars’ worth of these short positions were liquidated. On the other hand, long liquidations only accounted for $255,000 during the same period.
Read More
- HBAR PREDICTION. HBAR cryptocurrency
- IMX PREDICTION. IMX cryptocurrency
- LDO PREDICTION. LDO cryptocurrency
- JTO PREDICTION. JTO cryptocurrency
- MNT PREDICTION. MNT cryptocurrency
- TRB PREDICTION. TRB cryptocurrency
- FLOKI PREDICTION. FLOKI cryptocurrency
- Dandadan Shares First Look at Season Finale: Watch
- TNSR PREDICTION. TNSR cryptocurrency
- DGB PREDICTION. DGB cryptocurrency
2024-12-02 07:03