Meme Coin BRETT Poised for a 300% Surge, Crypto Analyst Ali Martinez Predicts
- WBOYOriginal
- 2024-07-22 20:23:11329browse
The crypto market has experienced a strong surge over the past few days, with several large-cap assets recording double-digit gains in the last week.
output: Meme coin BRETT has recorded a price increase of over 30% in the last week, attracting attention with its potential for further gains. A crypto analyst has shared a technical analysis suggesting the token’s price could surge by over 300%.
The crypto market has seen a strong upswing in the past few days, with several large-cap assets experiencing double-digit gains in the last week. Among these assets, meme coins have recorded a standout performance.
In particular, the meme coin BRETT has seen its value increase by over 30% this past week. A popular crypto analyst has indicated that this recent momentum could merely be the beginning, suggesting the token’s price is poised for a significant upward trajectory.
In a recent post on the X platform, well-known crypto analyst Ali Martinez shared an optimistic forecast for BRETT’s price in the upcoming weeks. According to Martinez, recent price movements suggest that the meme coin is gearing up for a substantial 300% price surge.
The basis for this bullish outlook is the presence of a bull flag pattern on BRETT’s daily price chart. This technical analysis pattern, known for indicating continuity, features a sharp rise (the pole) followed by a period of consolidation (the flag). The critical element is the breakout from this consolidation, which often mirrors the initial rise.
As depicted in the chart referenced by Martinez, BRETT’s price appears on the cusp of breaking out from a consolidation range that it has maintained since early June. This phase followed a significant upward movement, where the token’s price rose from $0.03 to $0.2.
According to Martinez, for the price to maintain its bullish trend post-breakout, the support level at $0.15 must hold firm upon retest. Failure to sustain this support could cause the price to revert within the consolidation range. However, if the breakout succeeds, Martinez anticipates that BRETT’s price could rally to $0.63.
Such an upswing would represent an over 300% increase from its current price. At the time of writing, BRETT is trading around $0.147, reflecting a nearly 6% rise in the last 24 hours. Data from CoinGecko indicates that the meme token has increased by nearly 30% over the past week.
With a market capitalization exceeding $1.45 billion, BRETT ranks among the top 10 largest meme coins in the digital asset market.
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