BRETT price has rallied 15%, now testing key resistance at the upper trendline of a descending channel, eyeing a potential move towards $0.085.
Brett (BRETT) price has surged over 15% in the past 24 hours, currently trading at $0.0512 as it tests the upper trendline resistance of the descending channel it has been trading within since early May. The price has also broken above the 20-day EMA for the first time in weeks, which is a signal of building bullish momentum.
This breakout attempt, combined with rising volume, suggests a potential trend reversal may be underway. The current descending channel also appears to be part of a bullish Cup and Handle formation.
If BRETT price manages to break and close above the upper boundary of the descending channel — $0.051–$0.052 — it would open the door for a measured move toward $0.85., which corresponds to the height of the channel projected from the breakout point. This level also aligns with the second major swing high within the channel.
However, the technical picture becomes even more compelling when the descending channel is seen as the handle of a larger Cup and Handle pattern. Should the price confirm a breakout above the handle, it could set the stage for a larger upside move toward ~$0.148 if the price breaks out of the cup’s rim.
The momentum indicators support the bullish case, with the MACD line above signal line, accompanied by a green histogram. The RSI is at 57, indicating moderate bullish momentum without being overbought, leaving room for the price to move higher before hitting resistance levels typically associated with overextension.
BRETT’s surge is happening alongside a broader crypto market rally, with Bitcoin (BTC) recently hitting a new all-time high just shy of $112,000. Other memecoins like Popcat (POPCAT), Aixbt (AIXBT), and Pudgy Penguins (PENGU) are also posting double-digit gains in the past 24 hours.
