Brett Crypto : Post-Crash Stability, but Will It Bounce Back?
Brett Crypto has been consolidating near the monthly lows for the last two weeks.
The BRETT price is down significantly 5.04% in Intraday and currently trades close to $0.065.
The Brett crypto is extending the losses on the second consecutive day and has dropped by more than 5% at the time of writing. It was trading close to 0.065 USD and is intending to close the session in red.
The daily chart depicts a consolidation of over two weeks near the monthly low value. The Brett crypto noted a high volatility in March after its launch. The price surged massively in the earlier weeks of March however crashed in the last week near $0.088.
Furthermore, the volatility dropped from the very start of April month and a consolidation was observed in the last two weeks. Several indecisive candles are being formed over the daily chart which is creating a confusing scenario for the traders and Investors.
The $0.088 and $0.042 levels are acting as the upper and lower supply zone for the crypto. Any breakdown of the consolidation may decide the next clear trend. Until the crypto is maintained in the range, the trend outlook is indecisive and sideways.
Any sustained move after breakout may validate a trend reversal and the price may show gains thereafter. On the other side, the price hovers near the monthly low value which increases the probability of a breakdown. A trend continuation may be observed in case of breakdown.
Brett Crypto Volume Analysis
The volume inflow has increased by 8.52% as compared to the previous day’s volume and has reached 28.06 Million USD at the time of writing. The live market capitalization of BRETT cryptocurrency is 556.88 Million and ranks 218th among all the cryptocurrencies.
The volume to market cap ratio is 4.79% suggesting low volatility in the crypto. It has 8.55 Billion BRETT tokens in the circulating supply which is nearly 85.55% of the total supply. It has a total supply of nearly 10 Billion BRETT tokens.
Brett Crypto Technical Analysis
From a technical point of view the BRETT cryptocurrency price hovers below all the key EMAs of 20, 50 and 200 days suggesting a weak outlook in the short term as well as long term.
At the time of writing, the RSI line was hovering close to 31.48 points and that of the SMA line was at 32.0 points. Both the RSI and SMA line were placed below the mean line and near an oversold region indicating a negative outlook as per the RSI analysis.
Brett Crypto Forecast 2024
On the most bullish observation, The BRETT price could rise to a high of $0.193 by the end of April 2024 if buyers are able to surpass above the $0.088 resistance. On the flip side, the most pessimistic prediction of our analysts is for the price to break below the recent support of $0.042 level after which the price may fall to $0.001 level.
Conclusion.
Brett crypto is facing a continued decline on the second consecutive day and is likely to end the day lower. Currently, the price is consolidating near monthly lows After facing high volatility in the last month. The price fluctuation is confined between $0.088 and $0.042, with a breakout or breakdown expected to set the future trend.
Currently, technical indicators like EMAs and RSI suggest a bearish outlook, with the RSI near the oversold territory. Market capitalization stands at $556.88 million, with a low volatility indication from the volume-to-market cap ratio.
Technical levels:
Support levels: $0.042 and $0.001
Resistance levels: $0.088 and $0.193
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
The BRETT price is down significantly 5.04% in Intraday and currently trades close to $0.065.
The Brett crypto is extending the losses on the second consecutive day and has dropped by more than 5% at the time of writing. It was trading close to 0.065 USD and is intending to close the session in red.
The daily chart depicts a consolidation of over two weeks near the monthly low value. The Brett crypto noted a high volatility in March after its launch. The price surged massively in the earlier weeks of March however crashed in the last week near $0.088.
Furthermore, the volatility dropped from the very start of April month and a consolidation was observed in the last two weeks. Several indecisive candles are being formed over the daily chart which is creating a confusing scenario for the traders and Investors.
The $0.088 and $0.042 levels are acting as the upper and lower supply zone for the crypto. Any breakdown of the consolidation may decide the next clear trend. Until the crypto is maintained in the range, the trend outlook is indecisive and sideways.
Any sustained move after breakout may validate a trend reversal and the price may show gains thereafter. On the other side, the price hovers near the monthly low value which increases the probability of a breakdown. A trend continuation may be observed in case of breakdown.
Brett Crypto Volume Analysis
The volume inflow has increased by 8.52% as compared to the previous day’s volume and has reached 28.06 Million USD at the time of writing. The live market capitalization of BRETT cryptocurrency is 556.88 Million and ranks 218th among all the cryptocurrencies.
The volume to market cap ratio is 4.79% suggesting low volatility in the crypto. It has 8.55 Billion BRETT tokens in the circulating supply which is nearly 85.55% of the total supply. It has a total supply of nearly 10 Billion BRETT tokens.
Brett Crypto Technical Analysis
From a technical point of view the BRETT cryptocurrency price hovers below all the key EMAs of 20, 50 and 200 days suggesting a weak outlook in the short term as well as long term.
At the time of writing, the RSI line was hovering close to 31.48 points and that of the SMA line was at 32.0 points. Both the RSI and SMA line were placed below the mean line and near an oversold region indicating a negative outlook as per the RSI analysis.
Brett Crypto Forecast 2024
On the most bullish observation, The BRETT price could rise to a high of $0.193 by the end of April 2024 if buyers are able to surpass above the $0.088 resistance. On the flip side, the most pessimistic prediction of our analysts is for the price to break below the recent support of $0.042 level after which the price may fall to $0.001 level.
Conclusion.
Brett crypto is facing a continued decline on the second consecutive day and is likely to end the day lower. Currently, the price is consolidating near monthly lows After facing high volatility in the last month. The price fluctuation is confined between $0.088 and $0.042, with a breakout or breakdown expected to set the future trend.
Currently, technical indicators like EMAs and RSI suggest a bearish outlook, with the RSI near the oversold territory. Market capitalization stands at $556.88 million, with a low volatility indication from the volume-to-market cap ratio.
Technical levels:
Support levels: $0.042 and $0.001
Resistance levels: $0.088 and $0.193
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
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