BRETT cryptocurrency has been in a consolidating phase within a symmetrical pattern since May 15th. This consolidation period follows a price increase after being listed on major exchanges in mid-April.
Interestingly, this memecoin has been undergoing a correction phase while adhering to a bullish pennant pattern within a larger symmetrical triangle formation.
Currently, BRETT has caught the attention of investors as it nears the end of its consolidation phase and prepares for a potential expansion phase.
On the daily chart, BRETT has been exhibiting strong bullish momentum. Following a reversal from the symmetrical triangle support level at $0.0815, the memecoin has been on an upward trend.
BRETT successfully broke through both the bullish flag and triangle resistance level at $0.0963, indicating positive price movement.
Market conditions seem favorable for BRETT’s price, with the asset aiming for a new all-time high at $0.195.
Benefiting from BRETT Crypto’s Long Position Opportunities
Over the past week, BRETT has stood out with a notable 29% gain, based on CoinMarketCap data.
Within the last 24 hours, BRETT has shown strong performance, surging by 18% at the time of writing.
Moreover, the memecoin’s market capitalization currently sits at $1.134 billion, placing it 8th in terms of market cap among meme coins.
When considering all factors, BRETT has outperformed its peers in various aspects.
At present, its market cap and trading volume have grown by 19% and 66%, respectively, surpassing the average gains of meme coins at 2% and 19% over the last day.
Deciphering the Data Insights
With positive technical signals in play, BRETT’s Santiment data suggests heightened whale activity within the market.
The percentage of supply held by large whales, those with over 5 million tokens, currently stands at 55.83. This highlights the significance of the current price level for BRETT.
Investors have been eagerly anticipating the expansion phase, a sentiment reflected in the surge of whale activity and inflow volume.
An analysis by CryptoCrypto delves into the memecoin’s social volume data through Santiment, revealing mixed reactions among users.
Despite a recent surge on September 11th, social media mentions of BRETT have been slowly declining.
Nonetheless, these trends are unlikely to hinder BRETT’s ongoing rally, as this shift could be attributed to increased attention towards major altcoins in the market.
With positive technical indicators and on-chain metrics, BRETT is poised for a potential run to its all-time high. The path towards $0.195 may be shorter than initially expected, given the current market conditions and investor sentiment.