BRETT surges 15% in 24 hours: What caused this rise?
The post BRETT surges 15% in 24 hours: What caused this rise? appeared on BitcoinEthereumNews.com.
Whale accumulation and a potential breakout suggested that Brett may surge past $0.18 soon. Technical indicators and rising Open Interest reinforced the bullish outlook. A crypto whale has made a bold move in the Brett [BRETT] market, withdrawing 525 Ethereum [ETH] ($1.74M) from Coinbase and using 400 ETH to purchase 10.83M BRETT at $0.124. The whale now holds 12.38M BRETT worth $1.61M and retains 125 ETH in reserve. At press time, BRETT was trading at $0.1342, reflecting a 15.09% increase over the past 24 hours. This significant accumulation indicates growing confidence in BRETT’s potential, with many traders anticipating a strong upward move. Brett: Promise for breakout Brett was approaching a crucial turning point as it edged closer to breaking out of its descending wedge channel, a formation often linked to bullish reversals. The key resistance level lay at $0.18, and successfully breaking through this point could trigger a surge toward $0.24 or higher. Additionally, the whale’s recent accumulation suggested that large investors saw significant upside potential in the memecoin. The steady recovery in price over the past 24 hours underscored the growing market optimism as Brett attempted to confirm its breakout. Source: TradingView Brett sees increasing attention Social Dominance highlighted growing interest in the token, with a slight increase from 0.30% the previous day to 0.397. This rise signals heightened community engagement, which often coincides with stronger price movements. Furthermore, increased mentions and discussions across platforms boosts visibility and attracts additional investors. This growing momentum within the community is creating a favorable backdrop for BRETT’s price action as enthusiasm builds. Source: Santiment Technical indicators reveal bullish momentum Technical indicators also point to strengthening bullish momentum. The MACD on the daily chart is at -0.01025, indicating the potential for a bullish crossover. Additionally, the stochastic RSI, at 63.89 at press time,…
Filed under: News - @ January 2, 2025 10:24 am