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The Brett price has soared 32% in the last 24 hours to trade at $0.09272 as of 6:50 a.m. EST on a 269% surge in trading volume to $112 million.
This surge in price comes as the Upbit cryptocurrency exchange announces the addition of BRETT to its trading platform today.
📘 @BasedBrett is now Listed on @Official_Upbit $BRETT #Upbit pic.twitter.com/ALaRlmjSAv
— BlackStars | Crypto News (@BlackstarsMKTCR) August 20, 2024
Upbit has also noted that withdrawal fees for these assets will be waived for the first 24 hours following the commencement of deposits and withdrawals to encourage user engagement.
Brett Price Analysis: Bullish Breakout and Potential Upward Trend
The BRETT/USD pair has broken out from a falling wedge pattern, a classic bullish reversal formation. This breakout, occurring near the $0.09012 level, has propelled the price above the 50-day moving average, which is often seen as a strong bullish signal. This crossover indicates a potential shift from a bearish to a bullish trend in the short term.
BRETTUSD Analysis Source: Dextools.io
The breakout is particularly compelling as it was accompanied by the price above the 50-day moving average, depicted by the blue line on the chart.
This crossover is a solid bullish indicator, often signalling a shift from a bearish to a bullish trend in the short term. The price now appears to target the 200-day moving average, represented by the green line, which is around $0.10887. This level is likely to serve as a critical resistance point shortly.
Adding to the bullish sentiment is the RSI, which currently reads at 71.36. This level is just above the overbought threshold of 70, suggesting that the asset has experienced strong buying pressure recently.
While this indicates robust momentum, it also hints at the possibility of a short-term pullback or consolidation, as assets in an overbought territory often pause before continuing their upward trajectory.
The MACD further supports this bullish outlook. The histogram is in positive territory, and the MACD line has crossed above the signal line, a classic sign of increasing bullish momentum.
This indicator, coupled with the price action and moving averages, paints a picture of a market poised for further gains for the Brett price.
Brett Price Poised For More Uptrend
The BRETT/USD pair shows promising bullish signals, with the price likely to test the 200-day moving average.
While the overbought RSI suggests that a short-term pullback or consolidation could occur, the overall trend appears to be upward.
If the price successfully breaks above the 200-day moving average, it could signal a sustained bullish trend. Traders should keep an eye on the $0.10887 level for further confirmation of the bullish momentum.
On the flip side, if the pullback sustains, it could empower the bears to push the price further downwards, compelling the bulls to retreat to the upper trendline of the falling wedge.
The Base Dawgz Presale Rockets Towards $3 Million
As Brett traders enjoy a rally, the new Base meme coin Base Dawgz (DAWGZ) is rocketing towards $3 million in funds raised in its presale.
This has crypto analyst and YouTuber ClayBro, with over 130K subscribers, optimistic that DAWGZ could “create millionaires” once it goes live.
Base Dawgz may be based on the Base blockchain, but it offers a truly unique multi-chain experience, seamlessly operating across Ethereum, Solana, Binance Smart Chain, and Avalanche.
Holders of DAWGZ tokens can stake their tokens to earn a remarkable 812% annual percentage yield (APY), with 20% of the token supply already set aside for staking rewards.
After passing $2.9M raised, we're steadily on our way to 3M 🚀 pic.twitter.com/JbZUMgF8yd
— Base Dawgz (@BaseDawgz) August 13, 2024
The project is also gearing up to launch the “Be Social for Airdrop” campaign, where users can earn points by creating and sharing memes and other content about Base Dawgz on their X accounts.
Once the presale wraps up, those points can be traded in for $DAWGZ tokens.
If you are drawn to the presale, you can buy DAWGZ tokens on the official website buy widget for $0.008173 each using ETH, USDT, BUSD, or USDC.
But don’t wait too long because the price will increase in less than 7 days.
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