Cryptocurrency analyst and trader Ari Martinez has expressed bullish sentiment on altcoins built on scalable Ethereum (ETH) based solutions.
Martinez told 55,200 subscribers on social media platform X that Brett Memcoin (BRETT) could rise in value by around 57% from current levels.
However, analysts warn that there could be an initial correction of about 25% from current levels.
While it may seem like the excitement around memcoins is dying down, I believe it is heating up. The underlying BRETT is one of those ready for an epic sprint.
Before taking off, BRETT could fall to the $0.038 support level, setting the stage for a bullish breakout to $0.080! "
According to the analytical charts, memecoin seems to be forming an ascending triangle pattern on the hourly timeframe. An ascending triangle pattern is considered bullish when the price leaves the upper resistance line.
At the time of writing, BRETT is trading at $0.0509, up 5.865% from its low of $0.0000847 on February 29.
As for #bitcoin (BTC), Martinez believes this major crypto asset could rise in price by about 9% from current levels if key psychological support levels hold.
Bitcoin appears to be coming out of its bull flag on the four-hour chart, and if #BTC holds above $70,000, it could rise nearly 10% to an all-time high of $ 77,000! "
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