Brett (BRETT) has bucked the overall market trend over the past 24 hours. During this period, the meme coin’s value increased by 10%, positioning itself as one of the top gainers among digital assets. It outperformed leading assets like Bitcoin (BTC) and Ethereum (ETH), whose values plunged 4% and 5%, respectively.
With buying pressure growing, the BRETT token price could be on the verge of regaining its all-time high of $0.19, last seen in June.
Brett leads market gains
The evaluation of BeInCrypto on the BRETT/USD One-Day Chart Reveals a peak in its balance volume (OBV). As of this writing, the meme coin’s OBV stands at 245.23 million, an increase of over 130% over the past three days.
The OBV indicator measures buying and selling pressure on an asset by combining its price movements with its trading volume. When it increases during a price rise, it signals strong buying pressure. This means the price rise is supported by high volume, making it more likely to continue.
Additionally, the configuration of BRETT Moving Average Convergence/Divergence (MACD) The indicator confirms the growing buying pressure in the market. As of this writing, the meme coin’s MACD line (blue) is above its signal line (orange).
This indicator tracks an asset’s trend direction, changes, and potential price reversal points. When the MACD line is above the signal line, it is bullish. This suggests that the asset’s short-term momentum is stronger than its long-term momentum.
Crypto Crash’s pseudonymous trader also shares this bullish sentiment. In a November 14 jobCrash noted that BRETT is set to launch the Solana-based Dogwifhat (WIF) coin, although it is not yet listed on Coinbase. According to the analyst, once BRETT is listed, “it will skyrocket and trade at 2 to 6 times the market capitalization of Wif.”
BRETT Price Prediction: One of Two Things That Can Happen
BRETT is currently trading at $0.164, just below the $0.166 resistance level – its final hurdle before reclaiming the all-time high of $0.19. Sustained buying pressure could propel the coin beyond this critical threshold, paving the way for a potential new peak.
However, a change in market sentiment or increased profit-taking could derail this bullish outlook. This can potentially drive the BRETT token price falling towards the $0.143 support level.
Disclaimer
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