Memecoin BRETT Flashes Bullish Signal, Solana (SOL) Forms W-Pattern: Analyst
- WBOYOriginal
- 2024-07-19 13:28:41527browse
Cryptocurrency analyst and trader Ali Martinez is highlighting a memecoin that is flashing a bullish signal.
Cryptocurrency trader and analyst Ali Martinez is keeping an eye on a memecoin that is showing a bullish signal.
Martinez shared his analysis with his 67,300 followers on the social network X, where he highlighted that Brett (BRETT), a memecoin that runs on Base, the Ethereum (ETH) scaling solution, is presenting a bull flag on the daily chart.
According to Martinez, if the memecoin manages to overcome the resistance zone of $0.15, it could propel Brett to soar to $0.63, marking an increase of about 357% from its current price.
At the time of writing, Brett is trading at $0.138.
The crypto trader and analyst also shared his insights on Solana (SOL), noting that the cryptocurrency is forming a W-shaped pattern on the 12-hour chart. In technical analysis, a W-shaped pattern usually indicates that a downtrend might be ending and that the price of an asset is about to begin an uptrend.
Martinez further noted that if this scenario plays out, Solana could rise by about 9% from its current price.
Solana is trading at $160 at the time of writing.
According to the crypto analyst, Solana’s potential bullish moves could trigger billions of dollars in liquidations on bearish bets.
“$2.98B in shorts will be liquidated if Solana reaches $176!”
Finally, Martinez shared his analysis of Bitcoin (BTC), noting that the flagship cryptocurrency must revisit a price last seen about a month ago for BTC to break above the record high of $73,800.
“Bitcoin must hold above $62,500 to maintain bullish momentum & break $66,250 to continue targeting new all-time highs!”
Bitcoin is trading at $64,695 at the time of writing.
AI-Generated Image: Midjourney
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