Brett (BRETT/USDT) is in a mild bullish trend, with the current trading price of $0.09413 up 1.38%. Technical indicators point to potential bullish moves.
BRETT: Current price action and trend
The price is within the 20-day simple moving average SMA of $0.09367. Acting as a support level, this SMA suggests that buyers are exploring this level in an attempt to push the price higher.
The upper Bollinger Band at $0.11212 is a crucial resistance level and if Brett reaches this level, he could experience selling pressure that could prevent further upward movement.
Moreover, a break above this resistance level could mean there is strong bullish momentum, while failure to break could lead to further consolidation around the SMA level.
RSI shows moderate bullish momentum
Meanwhile, the RSI is at 52.01, indicating slight bullish momentum but not quite in overbought territory. This level shows that there is potential for further growth.
If the RSI continues to rise to 60, it could signal increased demand for Bretts and a growing bullish trend. Crossing 70 could push the price into overbought territory, which is likely to cause a price correction.
Analyst’s View: Key Brett Chart Levels to Watch
One M_A_DTrading analyst identifies an important area on the price chart. According to analysts’ charts, the price is at a crucial point after a sharp rise, creating a deviation that could attract more demand.
$BRETT is gaining traction on our chart as a potential top memecoin on Base, especially with ecosystem support from Coinbase that could lead to significant growth. The chart is in a key zone after a strong upward rebound, which leaves a noticeable imbalance. However, with the price… pic.twitter.com/YvP3vMeSzJ
— 𝗠 𝗔 𝗗. 𝗧𝗿𝗮𝗱𝗶𝗻𝗴 (@M_A_DTrading) November 7, 2024
Brett’s recent decline from higher levels indicates that bulls should hold the current higher low to avoid further pullbacks.
The resistance levels of $0.105 and $0.13 can be considered as a breakout zone. A move above this level could lead to a strong bullish trend if supported by increased interest from the Base network, which has been supporting Brett as a rising meme coin.
A breakout of this level could signal a bearish reversal, threatening Memcoin with a significant pullback to lower support levels.
Long-term benefit potential
Another analyst sees Brett as a promising opportunity amid the market decline. With a pro-cryptocurrency government and support from the Base network, they are optimistic about the future.
You simply can’t lose if you have $BRETT. The market falls due to election fears, allowing you to buy more $BRETT at a lower price and come out stronger again. 💪It’s free money if you make money from it.
Understand that $BRETT is going nowhere but up. 📈 $BRETT first… pic.twitter.com/XiFzjPidC0
— Justin (@XParadose) November 7, 2024
Brett recently recovered 30% from a market decline, highlighting its resilience and potential for further growth. As the mascot of the Base network, Brett attracted attention and support, strengthening his position in the market.
The analyst argues that the market decline opens up buying opportunities, especially as Brett’s partnership with Base supports long-term growth. This positive sentiment is consistent with recent price action reflecting strong interest and the potential for higher valuations as demand for Brett increases.
