- BRETT’s price rallied 15% in 24 hours, testing a critical resistance at the top of a descending channel structure.
- The price breakout is supported by rising volume, a 20-day EMA cross, and bullish momentum from MACD and RSI indicators.
- A confirmed breakout may lead to price targets of $0.085 and $0.148, aligning with Cup and Handle technical formation measurements.
BRETT recorded a sharp 15% gain over the past 24 hours, climbing to $0.0512 in line with a broader market uptrend. The price is now testing a key resistance zone at the upper boundary of a descending channel that has been active since early May. This area between $0.051 and $0.052 is being closely watched as a potential breakout point.
Technically speaking, BRETT also made a bullish move, surpassing the 20-day exponential moving average after several weeks of sluggishness. This movement is in line with a rising bullish momentum. The price has gone hand in hand with volume, which gives power to the recent rally. The MACD indicator demonstrates the line closing above the signal line, and the RSI is looking up in the area of 57, so the asset has a greater chance of increasing.
Pattern Points Toward Broader Upside Potential
Technically speaking, BRETT also made a bullish move, surpassing the 20-day exponential moving average after several weeks of sluggishness. This movement is in line with a rising bullish momentum. The price has gone hand in hand with volume, which gives power to the recent rally. The MACD indicator demonstrates the line closing above the signal line, and the RSI is looking up in the area of 57, so the asset has a greater chance of increasing.
BRETT has been trending in the crypto market, which has been rallying with the rest of the cryptos. There has been a positive outlook as recently Bitcoin touched an all-time high price of over 112,000. Other memecoins also experienced a 10-fold increase in this period, including
Build-up to a breakout will count. The most important thing will be consolidation before a breakout.
During the ups and downs, the market will be keenly observing whether BRETT can hold a breakout and close above the position of price level, which is the $0.052 zone. Further buying pressure and depreciation above the 20-day EMA would perhaps become imperative in authenticating a deviation in the direction of the objective at $0.085 and possibly beyond.
