With meme coins back in bullish town, Brett (BRETT), the best friend of Pepe, is leading the race. The BRETT price reversal is crossing multiple resistances hinting at a new all-time high formation.
By Vishal Dixit
Edited by Julia Sakovich
Updated
3 mins read
With Bitcoin BTC $104 590 24h volatility: 0.7% Market cap: $2.07 T Vol. 24h: $53.64 B price resurfacing above the $96,000 mark, the meme coin industry is back on a recovery run. As Dogecoin DOGE $0.35 24h volatility: 0.6% Market cap: $51.71 B Vol. 24h: $2.04 B jumps 7.96% in the last 24 hours, BRETT BRETT $0.0852 24h volatility: 3.5% Market cap: $846.31 M Vol. 24h: $62.72 M meme coin is capitalizing on the increased inflows. This surge is helping to drive renewed interest in the meme coin market.
With a surge of 19.21% in the past 24 hours, BRETT is trading at $0.1351. Nearing the $1.5 billion market cap, BRETT is a meme coin to watch out for. The rapid growth in its price and market cap highlights the increasing attention it’s receiving from investors.
With the second consecutive bullish candle, the BRETT meme coin is bouncing off from the 200 EMA line. By completing a Morning Star pattern, the reversal run has now crossed the 100 EMA line. This indicates that the market sentiment is shifting in favor of the bulls.
Photo: TradingView
Completing a short-term rounding bottom reversal, a bullish closing above the 100 EMA line will conclude a lower high peak formation. Furthermore, the recovery run marks a bullish breakout of a falling wedge pattern, increasing the chances of a recovery rally. This breakout could signal the start of a strong upward movement.
Based on the price action levels, the immediate resistance for the wedge breakout rally is near $0.1586. Supporting the bullish chances, the spike in the daily RSI line is nearing the halfway level. If the RSI continues to rise, it could signal a continued buying interest in the coin.
Hence, the bullish recovery run in BRETT is likely to challenge the immediate resistance. A successful breakout above $0.1586 would indicate further upside potential to reach $0.21113.
Supporting the bullish rally in the BRETT meme coin, the interest in whales has significantly increased over the past 24 hours. This growing whale activity adds credibility to the bullish outlook.
Recently, a whale has withdrawn 525 ETH ETH $3 304 24h volatility: 0.8% Market cap: $398.39 B Vol. 24h: $25.74 B tokens from Coinbase to buy BRETT. The withdrawal amount is worth $1.74 million, and out of the total ETH, 400 ETH tokens were spent to buy BRETT. This large transaction is a clear sign of strong confidence in BRETT’s future price action.
In this purchase, 1.35 million worth of BRETT was purchased at an average price of $0.124. This purchase was continued by the last 125 ETH exchanged for 3.16 million BRETT tokens. This consistent whale accumulation suggests that the bullish trend is likely to continue.
The whale used its last 125 $ETH to purchase 3,165,744 $BRETT, bringing the total whale holdings to 15.55M $BRETT. pic.twitter.com/UAr3RjSNm9
— Onchain Lens (@OnchainLens) January 2, 2025
This has driven the total whale holding to 15.55 million BRETT tokens, reflecting the strong confidence of the whale in this meme coin. The whale’s large position further underscores the potential for BRETT to soar in the coming days.
In conclusion, with the bullish technical setup and the growing confidence of whales, the meme coin is likely to skyrocket as the broader market recovers.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Vishal, a Bachelor of Science graduate, began his journey in the crypto space during the 2021 bull run and has since navigated the subsequent market winter. With a strong technical background, he is dedicated to delivering insightful articles rich in technical details, empowering readers to make well-informed decisions.
