Key Points
- BRETT crypto broke free from a symmetrical triangle resistance level.
- Metrics painted a bullish picture.
- BRETT has been consolidating since May 15th.
- The memecoin is following a bullish pennant pattern within a larger symmetrical triangle.
- BRETT is on a bullish rally, aiming for its all-time high at $0.195.
- Significant gains in market cap and trading volume.
- Whale activity indicates strong investor interest.
BRETT’s Breakout and Bullish Momentum
BRETT crypto has recently broken free from a symmetrical triangle resistance level, signaling a potential bullish trend. This breakout is significant as it marks the end of a consolidation phase that began on May 15th. The consolidation followed a retracement after a buying impulse that started when BRETT was listed on major exchanges on April 18th.
Interestingly, BRETT has been adhering to a bullish pennant pattern, which is nested within the larger symmetrical triangle. This pattern suggests that the memecoin is poised for an upward move. As of now, BRETT is making significant bullish strides, turning heads in the crypto community. The consolidation phase appears to be nearing its end, paving the way for an expansion phase.
Daily Chart Insights and Market Performance
On the daily chart, BRETT is showing strong bullish moves. After reversing from the symmetrical triangle support level at $0.0815, the memecoin has been on a bullish rally. It managed to break free from both the bullish flag and triangle resistance levels at $0.0963. This breakout has set the stage for BRETT to aim for its all-time high of $0.195.
In the past week, BRETT has gained a significant 29%, according to CoinMarketCap data. In the last 24 hours alone, it has surged by 18%, making it one of the top performers in the market. The memecoin’s market capitalization now stands at $1.134 billion, ranking it 8th among meme coins. This impressive performance is not just limited to price gains; BRETT has also seen substantial growth in market cap and trading volume, with increases of 19% and 66%, respectively.
Whale Activity and Investor Sentiment
The metrics tell a compelling story for BRETT. Positive technical indicators and data from Santiment show a spike in whale activity. The percentage of supply held by whales with over 5 million BRETT coins currently stands at 55.83%. This indicates that large investors are confident in the coin’s potential and are accumulating more tokens.
Investors have been eagerly anticipating this expansion phase, and the surge in whale activity reflects their optimism. Despite mixed reactions in social volume data, the recent surge on September 11th has kept the momentum going. Although social mentions have been fading, this may not significantly impact the current rally, as the focus might be shifting to major altcoins in the market.
Conclusion
BRETT crypto is on a promising path, with high chances of rallying to its all-time high. Both technical and on-chain metrics support this bullish outlook. The coin’s journey to $0.195 may be shorter than anticipated, given the strong investor interest and positive market indicators. As BRETT continues to gain traction, it remains a noteworthy player in the memecoin space.
