A closely watched crypto analyst says an altcoin that has posted massive gains in the past five months could soon witness fresh rallies.
Crypto trader Michaël van de Poppe tells his 722,700 followers on the social media platform
BRETT, which is part of the Base network, has posted a staggering 13,000% gain since February and has a market capitalization of $1.16 billion at the time of publication.
“I completely missed it: trading in meme coins, but the volatility is enormous and offers a lot of opportunities. BRETT has seen a 50% correction but could show some signs of relief with strong support. A break at $0.1350 and another leg is possible for this one.”
On February 29, BRETT recorded its all-time low of $0.0008475. At the time of writing, the memecoin is trading for $0.11.
We move on to Ethereum, Van de Poppe say he is bullish on the top altcoin ahead of the possible adoption of Ethereum (ETH) exchange-traded funds (ETF) on the spot market.
“The Ethereum ETF is launching next week! After attending ETHCC (community conference) it is clear that Ethereum’s impact is vastly underestimated on social media. With BlackRock’s tokenization fund reaching $500 million worth of ETH, interest is skyrocketing. I’m glad I’m long ETH!”
Earlier this week the trader made noted that Ethereum has looked stronger than Bitcoin (BTC) over the past nine weeks.
“[ETH is] Up 20% versus Bitcoin and the trend is shifting. It is a matter of time before the entire ecosystem gets going.”
ETH is trading at $3,138 at the time of writing.
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Generated image: Midjourney