The Brett price was trading at $0.04132 as of 4:30 am EST, down 16% over the last 24 hours. BTRETT rose as much as 150% over the last 24 hours before a drawdown to the current price.
Brett is a new memecoin on the BASE layer 2 blockchain that aims to surpass the well-known PEPE in popularity. Despite this ambition, Brett has seen a 50% decline in value since reaching its all-time high of $0.08575. This downward trend reflects ongoing concerns among investors, further compounded by a general drawdown across the crypto market.
BRETT’s market capitalization currently stands at a robust $346 million million, ranking among the top 230 digital currencies on the CoinMarketCap ranking. Brett’s trading volume witnessed a notable 56% surge over the past 24 hours, settling at $50.86 million. Despite the falling prices, this spike in trading volume might indicate increased market activity as traders capitalize on the coin’s volatility.
BRETT’s bull flag predicts a 160% leap in price
After dropping 73% from its new all-time high of $0.08575, Brett dropped to a swing low of $0.02230 on April 27. BRETT price pulled back up as bulls bought the dips, and the wider crypto market recovered. The BTC rose 150% to a high of $0.05586 before correcting to the current price of $0.04132.
Despite the retrace, a bull flag has appeared on the four-hour chart, which suggests that the uptrend will continue.
The memecoin bulls are fighting resistance from the flag’s upper boundary at $0.04446. A four-hour candlestick close above this level would signal a bullish breakout from the technical formation, projecting a rally to $0.1121. Such a move would represent a 166% ascent from the current price.
TradingView chart: BRETT/USD
On the other hand, the relative strength index’s (RSI) position around 42 indicated that the bears were still in control of the price and were determined to pull the price toward the $0.0350 psychological level.
