- BRETT crypto broke free from a symmetrical triangle resistance level.
- The statistics painted a bullish picture.
Brett [BRETT] has been consolidating in a symmetrical pattern since May 15. The consolidation precedes a retracement after a buying impulse since the listing on major exchanges on April 18.
Interestingly, the memecoin was in a corrective face while following a bullish pennant pattern. The pennant is submerged in the larger symmetrical triangle pattern.
At the time of writing, the memecoin turned investor attention around. The consolidation phase is nearing its end and heralding an expansion phase.
On the daily chart, BRETT is making big bullish moves. Since After the reversal of the symmetrical triangle support level at $0.0815, the memecoin has staged a bullish rally.
Brett managed to break free from the chains of both the bullish flag and triangle resistance levels at $0.0963.
The tides are now looking 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 win!
According to the last week, the memecoin alone has risen by a significant 29% CoinMarketCap facts.
Over the past 24 hours, BRETT has been among the best performers, up 18% daily at the time of writing.
That’s not all: the memecoin’s market cap is $1.134 billion, placing it 8th among meme coins by market cap.
However, BRET is the best performing in all dimensions.
Market cap and trading volume growth, which stood at 19% and 66% respectively at the time of writing, were all above the memecoin’s average gains of 2% and 19% over the past 24 hours.
What story do the statistics tell?
Given the current positive technical indicators, BRETT Santiment data indicates a peak in whale activity.
The percentage of whale supply above 5 million current is 55.83. This indicates how crucial the current price is for the coin.
IInvestors have been holding their breath in anticipation of this phase of expansion, and their inflows are evident from the surge in whale activity.
Source: Santiment
AMBCrypto further analyzed the memecoin’s social volume data through Santiment, which yielded mixed reactions.
Despite the recent surge on September 11, social mentions slowly declined.
Read Brett’s [BRETT] Price forecast 2024–2025
However, these may not generate more offensive momentum to slow the current BRETT rally as this could be the result of a social shift towards large altcoins in the market.
Source: Santiment
The BRETT Prize has high chances of reaching its all-time high. Given both positive technical and on-chain metrics, the path to $0.195 could be shorter than expected.