BRETT Price Explodes 30% In A Single Week – What’s Next For The Meme Coin?
21 Luglio 2024 - 10:30AM
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The crypto market has enjoyed a good run in the last few days, with
several large-cap assets posting double-digit gains in the past
week. Meanwhile, meme coins like Dogecoin, dogwifhat, Pepe, and
Brett, were also among the best-performing assets in the market.
Specifically, BRETT witnessed an over 30% increase in its value
over the past week. Interestingly, a popular crypto pundit has
suggested this recent momentum is only the tip of the iceberg, as
the meme token’s price seems set to take off. Analyst Predicts Meme
Coin’s Price Will Skyrocket By 300% In a recent post on the X
platform, prominent crypto analyst Ali Martinez put forward an
exciting projection for the price of BRETT over the coming weeks.
According to the pundit, recent price action suggests that the meme
coin is gearing for an explosive 300% move to the upside. Related
Reading: Crypto Market Rebounds From Lows, But Why Are Cardano
Holders Suffering Losses? The rationale behind this bullish
projection is the formation of a bull flag on BRETT’s daily price
chart. A bullish flag formation is a technical analysis and a
strong continuation pattern that resembles a flag on a pole.
The pole usually represents a vertical rise while the flag
represents a period of price consolidation. The important feature
of this chart formation is the breakout from the flag, which
typically mirrors the length of the initial pole of the flag.
As shown in the chart above, the BRETT price seems to be on the
verge of a breakout, having been in a consolidation range since
early June. This consolidation zone or flag was preceded by a
vertical upward movement, which saw the token’s price jump from
$0.03 to $0.2. Martinez noted in his post that if the meme coin’s
price breaks out of the flag, the $0.15 support level needs to hold
strong upon retest. If the support fails to hold, the Brett might
just return within the consolidation range. In the case of a
successful breakout, the analyst predicted the BRETT price to climb
as high as $0.63. BRETT Price Overview As inferred earlier, a price
upswing to $0.63 would represent an over 300% rally from the
current price point. As of this writing, the price of Brett stands
around $0.147, reflecting a nearly 6% increase in the last 24
hours. Related Reading: Is $200 Within Reach For Solana Price?
Here’s Why This Blockchain Firm Thinks So According to data from
CoinGecko, the meme token is up by nearly 30% in the past week.
With a market capitalization of over $1.45 billion, BRETT ranks
amongst the top 10 largest meme coins in the digital asset sector.
Featured image from iStock, chart from TradingView
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