The post BRETT volume cools – But why long traders won’t back down just yet appeared on BitcoinEthereumNews.com.

BRETT rose 2.32% in 24 hours, but volume fell 9.62% to $61M, indicating a weakening uptrend. Bullish sentiment, particularly in the spot market, has kept the memecoin trending upward against the odds. Over the last 24 hours, Brett [BRETT] recorded a modest 2.32% gain. However, the accompanying decline in market volume—down 9.62% to $61 million—adds a layer of caution to the current uptrend. The shrinking volume points to a cooling market environment, with limited signs of an imminent breakout or breakdown. This mirrors the broader indecision visible in current price action. AMBCrypto analyzes the factors around BRETT’s indecisive market stance. Is this roadblock enough to halt BRETT? BRETT’s upward move can be linked to its position within a bullish pattern known as the ascending channel. This pattern forms when the memecoin’s price continues to rise within a defined zone on the chart before retracing to the start of the channel. Analysis shows that this drop to the bottom of the channel could occur sooner, as the memecoin is now trading within a key resistance range. Source: TradingView The combination of the ascending channel and resistance range could send the asset to one of three targets: $0.065, $0.052, or $0.031. These areas represent potential levels for a market rebound, offering a catalyst for the asset to trend higher. Where does the market indicators stand? Indicators show a clear stance; they point to a bearish tilt among traders. The Aroon Down line stood at 57.14%, well above the Aroon Up’s 7.14%, pointing to growing downside pressure. Source: TradingView If this percentage gap widens to a full divergence, with the Aroon Down at 100.00% and the Aroon Up at 0.00%, it would suggest that BRETT has shifted heavily toward bearish momentum. Concurrently, the Accumulation and Distribution (A/D) indicator shows that distribution has begun.…

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Filed under: News - @ May 24, 2025 5:20 am