The Brett (BRETT) meme coin, built on the Base network, may be preparing for a recovery as a divergence between price and volume emerges.
While BRETT’s price has been falling, its trading volume has increased sharply. This contrast suggests that selling pressure may be approaching its peak, potentially setting the stage for a recovery.
Brett may be on the verge of recovery
BRETT is currently trading at $0.085, down nearly 10% in the last 24 hours. Trading volume has reached $19 million in the same period, up 13%. This discrepancy between price and volume suggests that holders are dumping their positions.
However, it also signals that the market may be approaching a point of no return, where selling pressure may ease. At this point, buyer interest usually resurfaces, which can lead to a price rebound.
The BRETT Relative Strength Index (RSI) analysis confirms the likelihood of sellers becoming exhausted. The RSI is currently at 39.17, approaching the oversold zone.
The RSI measures whether an asset is overbought or oversold on a scale of 0 to 100. A reading above 70 indicates overbought conditions and a potential correction, while a reading below 30 signals oversold conditions and a possible rebound.
Although the RSI BRETT has not yet entered the oversold zone, the current readings indicate that the asset may be undervalued and is ready for a price recovery. If the RSI drops below 30, it will confirm oversold conditions, making a rebound very likely.
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In addition, Chaikin Money Flow (CMF) BRETT is trending higher despite the price decline, creating a bullish divergence. CMF is currently at 0.07, which increases the possibility of a price reversal.
This divergence occurs when the price of an asset falls while its CMF rises and becomes positive. This pattern suggests that the selling pressure pushing the price down is losing momentum, signaling that a rebound may be imminent.
BRETT Price Prediction: Meme Coin Could Hit $0.11 If Sellers Drop Their Services
Once sellers run out, BRETT will rebound. Its price will rise as buying activity increases. The change in market trends could push the meme coin to $0.11.
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However, if the current trend continues and selling activity remains strong, the price of BRETT may fall to $0.05.
