Much like the rest of the crypto market, Brett (BRETT) price has been declining. BRETT was facing resistance from a descending trendline, that has triggered lower price action.
BRETT buyers and bulls made multiple attempts to overcome the trendline hurdle but couldn’t do so. Sellers on the other hand have shown their complete domination since June.
Can BRETT Gain 30% Price?
Brett price has displayed a correction phase of 62% and has reached near the bearish trendline. The buyers have managed to defend the last swing low, which demonstrates the buyers’ involvement.
According to the technical chart, buyers were generating buying momentum on every swing low. The price has gained 13% from the recent low and heading toward the trendline.
The Relative Strength Index (RSI) has developed a golden crossover with the RSI-based moving average. The RSI has generated a bullish divergence which could be a key factor for a bullish forecast. The MACD has witnessed a bullish divergence and the histograms have flipped to green.
Corne Marchand (@MarchandCrone) has tweeted that the Brett crypto coin is forming a bullish divergence at the bottom. The price is expected to retest the resistance level of $0.10.
The buying momentum can be generated once the Brett price surpasses that resistance level. After the breakout from the resistance, buyers could wait for confirmation from the support level.
Can BRETT Recover Previous Losses After the Breakout?
Brett crypto traded at $0.0741 at press time, which has risen by 2.83% in the past 24 hours. The trading volume was $735.35 Million and the 24-hour trading volume was $11.59 Million.
Since August, the Brett price has managed to hold the price over the $0.0700 hurdle. The involvement of buyers might help to trigger a breakout from the trendline.
Buyers might be attracted if the digital asset price surpasses the descending trendline. Investors may show interest if the BRETT price smashes the $0.150 mark. Suppose this momentum is supported by the volume then buyers may lift the price to a new all-time high.
On the other hand, if the crypto asset price fails to overcome the trendline, then sellers may remain strong. The price below the $0.0650 could be a bearish signal and sellers may keep dominating further.
Brett Price Analysis and Forecast
Based on the technical analysis and market commentary, it seems that the BRETT price is currently in a correction phase. Yet, it has the potential for a bullish breakout. The Relative Strength Index (RSI) has shown a bullish divergence, and the MACD has also witnessed a bullish indication.
Additionally, there are indications of buying momentum once the price surpasses the resistance level. If the price manages to break the descending trendline, it could attract more buyers and potentially lead to a new all-time high.
As per the technical chart, the bullish momentum in the Brett price might disturb near the $0.100 and $0.150 levels. It is expected to take support on the $0.0700 and $0.0300 mark.
