Based on the price action and BRETT’s daily chart, there is a strong possibility that the meme coin could soar by 40% to reach the $0.15 level in the coming days. However, BRETT’s on-chain metrics indicate that traders are currently exiting their positions or that their positions were liquidated during the recent price correction.
Despite the bullish technical analysis, these on-chain metrics suggest that bears are currently in control. Currently, BRETT is trading near $0.1073 and has experienced a price drop of 2.65% over the past 24 hours.
During the same period, its trading volume declined by 25%, indicating reduced participation from traders and investors compared to the previous day.
According to expert technical analysis, BRETT appears bullish after breaking out from a descending trendline and a bullish inverted Head-and-Shoulders pattern.
It has also successfully retested the neckline and is now heading upwards. Additionally, if the sentiment persists, it could rally another 30% to reach the $0.20 level.
BRETT’s Relative Strength Index (RSI) also suggests a significant upside rally, as its value currently lies in oversold territory.
BRETT (Brett), a meme coin which has gained significant attention from the crypto community, is poised for a significant upside rally. BRETT, the official mascot of the Base Chain, recently broke out from a bullish price action pattern and has shifted the sentiment to an uptrend. According to the chart, if BRETT holds above the $0.0949 level, the bullish outlook will remain intact; otherwise, it will fail.
