As of 3:35 a.m. Eastern Time, the price of Brett has plummeted by 7% in the past 24 hours to $0.1513, with a 36% decrease in trading volume to $64 million.
Despite the overnight price drop, the price of Brent crude oil has still risen by 113% in the past month. Inspired by the character Brett from the “Boys Club” comic series, Brett is the largest meme coin on the Base chain, with a market value of approximately $1.5 billion.
The bull market for Brett’s price remains above the bearish channel
Due to the tug of war between buyers and sellers, the price of Brett has been steadily declining, forming a bearish channel pattern. However, buyers have shown resilience, pushing the price from the support area of $1256 to the resistance level above the trend line in the channel.
The price has now broken through this channel, laying a solid technical foundation for further growth.
Despite returning to the upper trend line of the channel, this development may attract traders to take long positions on BRETT, potentially pushing its value above the current historical highs.
The Relative Strength Index (RSI) for BRETT has rebounded from the oversold level of 30 to the midpoint level of 50, currently at 59. If momentum continues to strengthen, the RSI may rise to the overbought area near 70.
Brett Price Forecast: Bull Market Eyes New Highs
According to the Moving Average Convergence Divergence (MACD) indicator, BRETT is showing positive signals. Currently, the MACD line is above the signal line, slightly above the neutral level, indicating a bullish momentum.
The BRETT price remains bullish on the daily chart, indicating that the token price has found strong support and may rise in the future.
The bullish momentum on the daily time frame suggests that BRETT may target $0.1917, supporting potential long positions. The upward 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 Breaks $2 Million
Base Dawgz (Dawgz) is a new meme token aimed at challenging Brett’s dominance on Base. It has had a strong start, raising over $2.1 million in the pre-sale.
