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- 1 Brett Crypto has been consolidating near the monthly lows for the last two weeks.
- 2 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 intends 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, it crashed in the last week near $0.088.
Furthermore, the volatility dropped from the start of April, and a consolidation was observed in the last two weeks. Several indecisive candles are being formed over the daily chart, creating a confusing scenario for the traders and Investors.
The $0.088 and $0.042 levels act as crypto’s upper and lower supply zones. Any breakdown of the consolidation may decide the next clear trend. The trend outlook is indecisive and sideways until the crypto is maintained in the range.
Any sustained move after the breakout may validate a trend reversal, and the price may show gains afterward. On the other hand, the price hovers near the low monthly 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% compared to the previous day’s volume and 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 crypto. It has 8.55 Billion BRETT tokens in the circulating supply, nearly 85.55% of the total supply. It has a total supply of almost 10 Billion BRETT tokens.
Brett Crypto Technical Outlook
From a technical point of view, the BRETT cryptocurrency price hovers below all the key EMAs of 20, 50, and 200-day, suggesting a weak outlook in the short and long term.
At the time of writing, the RSI line hovered close to 31.48 points, and the SMA line hovered at 32.0 points. The RSI and SMA lines were placed below the mean line and near an oversold region, indicating a negative outlook as per the RSI analysis.
Brett Crypto Forecast April 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 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 the $0.042 level, after which the price may fall to the $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.
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.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
