Cryptocurrency analyst Ali Martinez shared an important analysis about Brett (BRETT), a meme coin that has gained popularity recently. Martinez’s evaluation highlighted Brett’s potential and his place in the market.
The basis of the analysis is the idea that Brett has significant upside potential in the near future. According to Martinez, Brett has about a 57% chance of gaining value from the current level. However, it warns that there may be a potential correction before this rise and warns investors to be prepared. This correction estimate could be around 25%.
Martinez’s in the analysis Another important point is the possibility of Brett moving according to predetermined support and resistance levels. The analyst states that Brett may fall to the $0.038 support level and gain strength for the rise from there. This could increase the likelihood of Brett gaining momentum towards higher levels.
Looking at the technical details of the analysis, it can be seen that Brett has formed an ascending triangle formation on the one-hour time frame. Such formations usually indicate a strengthening of the uptrend as the price breaks through the upper resistance level. Therefore, if the meme coin price breaks the upper resistance level, the uptrend may become even more evident.
“The Memecoin craze may seem to be calming down, but I believe it is only heating up. BRETT is one of those getting ready for an epic run! Before rising, BRETT may drop to the $0.038 support, paving the way for a rise to $0.080!”
BRETT is trading at $0.0509 at press time.
Apart from meme coin, Martinez also reviewed the leading cryptocurrency Bitcoin (BTC). The analyst says that if a key support and psychological level is maintained, Bitcoin could rise by around 9% from the current level.
“Bitcoin appears to be breaking the bull flag on the 4-hour chart! If BTC stays above $70,000, we could rise almost 10% to reach an all-time high of $77,000!”
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