BRETT is on a bullish rally after a 29% surge in the past week after breaking above a key resistance level.
- BRETT crypto broke free from a symmetrical triangle resistance level. Metrics painted a bullish picture.
Brett [BRETT] has been consolidating in a symmetrical pattern since the 15th of May. The consolidation precedes a retracement after a buying impulse since it listing on bigger exchanges back on the 18th of April.
Interestingly, the memecoin has been in a correcting face while obeying a bullish pennant pattern. The pennant is submerged in the bigger symmetrical triangle pattern.
As of writing, the memecoin was making its investors heads turn. The consolidation phase is nearing its end and ushering in an expansion phase.
On the daily chart, BRETT is making big bullish moves. Since its reversal from the symmetrical triangle support level at $0.0815, the memecoin has been on a bullish rally.
Brett managed to break free from the chains of both bullish flag and triangle resistance level at $0.0963.
The tides now look calm for BRETT prices and the asset is currently on a free run towards its all-time high at $0.195.
Source: TradingView
BRETT crypto: Long position takers gain!
Over the last one week, only the memecoin has gained by a significant 29%, according to CoinMarketCap data.
In the last 24 hours, BRETT has been among the most performing, with a daily surge of 18% at press time.
That not all — the memecoin’s market capitalization stands at $1.134 billion, ranking it 8th by market cap among the meme coins.
However, BRETT has been the most performing in all dimensions.
Its market cap and trading volume growth, which stood at 19% and 66%, respectively, at press time, were all above the overall memecoin’s average gains of 2% and 19% in the last 24 hours.
What tale do the metrics tell?
Given current positive technical indicators, BRETT Santiment data indicate a spike in its whale activity.
The percentage of supply by whales over 5M current stands at 55.83. This indicates how crucial the current price is for the coin.
Investors have held their breath waiting for this expansion phase, and their inflow volume is evident from the whale activity surge.
Source: Santiment
AMBCrypto further analyzed the memecoin’s social volume data via Santiment, which painted mixed reactions.
Despite the recent surge on the 11th of September, the number of social mentions were slowly fading.
However, these may not generate more offensive momentum to slow the current BRETT rally, since this could be the results of a social shift to major altcoins in the market.
Source: Santiment
BRETT price has high chances of rallying to its all-time. Given both positive technical and on-chain metrics, the coin path to $0.195 may be shorter than anticipated.
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