As of 3:35 AM Eastern Time, the price of Brett has dropped by 7% in the past 24 hours to $0.1513, with a decrease in trading volume of 36% to $64 million.
Despite the overnight drop, the price of Brent crude has still risen by 113% in the past month. Inspired by the character Brett from the comic series “Boys Club,” Brett is the largest meme coin on the Base chain, with a market value of around $1.5 billion.
The bullish trend in Brett’s price remains higher than the bearish channel
Due to the tug-of-war between buyers and sellers, the price of Brett has been declining, forming a bearish channel pattern. Nevertheless, buyers have shown resilience, pushing the price from the support area of $125.6 to the resistance level above the trend line of the channel.
The price has now broken out of this channel, laying a strong technical foundation for further upward movement.
Although it has returned to the upper trend line of the channel, this development may attract traders to take long positions on BRETT, potentially surpassing its current all-time high.
The relative strength index (RSI) of BRETT has rebounded from the oversold level of 30 to the midpoint level of 50, currently at 59. If the momentum continues to strengthen, the RSI could rise to the overbought zone near 70.
Brett Price Forecast: Bull Market Sees New Highs
Based on the Moving Average Convergence Divergence (MACD) indicator, BRETT shows a positive signal. Currently, the MACD line is above the signal line, slightly higher than the neutral level, indicating a bullish momentum.
The price of BRETT still maintains a bullish stance on the daily chart, indicating that the token price has found strong support and may rise in the future.
This bullish momentum in the daily timeframe suggests that BRETT may target $0.1917, supporting potential long positions. The upside target is expected to be between $0.1933 and $0.2362.
However, if the price falls below $0.1917, the bullish scenario may fail. In this case, the outlook may weaken, pushing the meme coin towards the support level of $0.1569.
Base Dawgz Pre-Sale Surpasses $2 Million
Base Dawgz (Dawgz) is a new meme token aimed at challenging Brett’s dominance on Base. It has had a good start, raising over $2.1 million in the pre-sale.