BRETT appears bullish after recently breaking out from a descending trendline and a bullish inverted Head-and-Shoulders pattern.
Additionally, it has successfully retested the neckline and is now heading in an upward direction.
Based on the price action and BRETT’s daily chart, there is a strong possibility that the meme coin could soar by 40% to reach the $0.15 level in the coming days. Additionally, if the sentiment persists, it could rally another 30% to reach the $0.20 level.
BRETT’s Relative Strength Index (RSI) suggests a significant upside rally, as its value currently lies in oversold territory.
Despite the bullish technical analysis, BRETT’s on-chain metrics indicate that traders are currently exiting their positions or their positions were liquidated during the recent price correction. Its open interest has dropped by 8% over the past 24 hours.
As of now, the major liquidation levels are near $1.055 on the lower side and $1.083 on the upper side, with traders over-leveraged at these levels.
The BRETT/USDT pair has experienced some volatility in recent days. As of today, the price of BRETT is approximately $0.108, reflecting a slight decrease of around 0.3% over the past 24 hours.
