The Brett price is trading at $0.157 as of 1:30 am ET, down 1% over the last 24 hours and up 27% over the last seven days.
In the longer timeframe, TIA remains bullish, with over 337% gains over the last 30 days. The memecoin shows signs that it is closer to re-initiating a rally. But there might be a dip before the BRETT bulls kickstart an explosive move to new all-time highs.
Let’s look at BRETT’s price action to ascertain where it is headed next.
BRETT approaches key levels in the short-term
After hitting new all-time highs of $0.1957 on June 9, the BRETT price dropped more than 20% to set a swing low at $0.144 on June 11.
The price has embarked on a downtrend as buyer exhaustion and profit-booking continue. The price now trades 19.5% lower than this high with sellers determined to take the price even lower.
The relative strength index (RSI) is pointing downward and has decreased from 88 to 67 over the last few days, suggesting that the market conditions are in favor of bearish traders.
The support at $15 and the 38.2% Fibonacci retracement level at $0.1321 are key levels to watch on the downside. Other lines of defense may arise from the 50% Fibonacci retracement level at $0.1125 and the major support level at $0.10, embraced by the 61.8% retracement level.
TIA/USD four-hour chart. Source: TradingView
On the upside, Brett’s price has been oscillating within the $0.15 to $0.19 range for over a week. However, the meme token has been fighting to hold above $0,15. Investors can expect the altcoin to sweep the range’s upper limit at $0.19, the all-time high.
Higher than that, the price could potentially overcome sell-congestion from the all-time highs and tag the $$0.20 psychological level and eventually rise higher into price discoveries.
