Greed

Million

Billion

Daily

Coin

Recently, BRETT, the 64th crypto by market cap, has advanced more than 35% after a fall seen this week.&nbsp;BRETT price saw immense growth after the downfall. 
Amidst the market bloodbath earlier, most cryptos, along with BRETT, was a bear target that led to the sell-off, where the memecoin sector faced a major drop earlier. However, the global memecoin market cap has increased by 20.68%, which has reached $37.528 Billion. 
Most cryptocurrencies follow the price movement and activity of the market leader <a href="https://www.thecoinrepublic.com/price-prediction/bitcoin/">Bitcoin</a> (BTC), especially the memecoin sector. If BTC performs in green, it influences investors’ sentiments and participants. Additionally, that brings positive feedback and bull buying activity advances. 
<h2 class="wp-block-heading" id="h-global-market-fear-increased-despite-intraday-gains-why">Global Market Fear Increased, Despite Intraday Gains: Why?</h2> 
Recently, the global market indicated high probability that bulk buying took place from the witnessed dip. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="544" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-67-1024x544.png" alt="BTC, JP225, NI225, KOSPI 1.D. | Source: TradingView" class="wp-image-652293" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-67-1024x544.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-67-300x159.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-67-768x408.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-67-1536x816.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-67-150x80.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-67-696x370.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-67-1068x568.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-67.png 1573w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 BTC, JP225, NI225, KOSPI 1.D. | Source: TradingView
 </figcaption>
</figure> 
From several stock market indexes to the crypto market, they exhibited the change of wind in favor of bulls lately. Correspondingly, the broader market has illustrated a liquidity grab candle like BRETT displayed.&nbsp; 
But, it has been yet to be confirmed, as in BRETT, the change of character (CHoCH) for a bullish trend would start above the sustenance at $0.120. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="979" height="465" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-66.png" alt="Fear &amp; Greed Index | Source: alternative" class="wp-image-652288" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-66.png 979w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-66-300x142.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-66-768x365.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-66-150x71.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-66-696x331.png 696w" sizes="(max-width: 979px) 100vw, 979px">
 <figcaption class="wp-element-caption">
 Fear &amp; Greed Index | Source: alternative
 </figcaption>
</figure> 
So, many do not believe the current changed sentiment. As a result, the fear and greed index needled at extreme fear, as it slipped to 17 recently. 
<h2 class="wp-block-heading" id="h-brett-brett-numbers-on-the-go">Brett (BRETT) Numbers On The Go</h2> 
Brett has gained the 64th spot on the basis of its market cap, followed by 24-hour price activity in the global crypto list. Precisely, its market cap has been larger than many, which has given this crypto a position in the top 100 global cryptos. 
According to coinmarketcap, BRETT crypto advanced by 34% in market capitalization and by 6% in spot trading volume inflow in the last 24 hours. Its market value was at $967.8 Million and its trading volume was at $93.860 Million. This resulted in a massive volume/market cap ratio of 10.50% which exhibits high liquidity in the meme-coin asset. 
Additionally, per its tokenomics, there are 9.910 billion BRETT floating in circulation, which makes 99.10% out of the total of 10 Billion BRETT. 
<h2 class="wp-block-heading" id="h-decoding-brett-price-over-daily-chart">Decoding BRETT Price Over Daily Chart</h2> 
In mid-May 2024, BRETT broke from a double bottom pattern, where it had exhibited gains of more than 550% by June 10th. 
However, due to the high pressure of bears, it built a weak high that created instability in price, leading to its price plummeting. That drop produced a declining broadening wedge. 
At press time, the price was trading at $0.09271 and seemed headed for the upper border, but in the way, the dynamic resistance of 50-day looms.  
<a href="https://in.tradingview.com/chart/BRETTUSDT/4fueqoaP-Decoding-BRETT-Price-Over-Daily-Chart/"></a><a href="https://in.tradingview.com/u/Sam_TCR/"></a><a href="https://in.tradingview.com/"></a>  
Once the 50-day EMA gets pierced, a change of character (CHoCH) would take place, which could lead to a breakout from the upper border of the wedge towards retesting the supply again. 
The indicators like MACD showed -0.01019, whereas the histogram was negative 0.00457. Meanwhile, the RSI showed a resurgence from the oversold territory that aimed at overbought, whereas, at the press, the RSI was at 37.26. 
Therefore, the resistance in BRETT could be at $0.120 and $0.150, followed by the supports at $0.055 and $0.0311, respectively. 
The post <a href="https://www.thecoinrepublic.com/2024/08/07/brett-price-recovers-35-after-major-market-sell-off-whats-ahead/">BRETT Price Recovers 35% After Major Market Sell-Off, What’s Ahead?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

BRETT Price Recovers 35% After Major Market Sell-Off, What’s Ahead?

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