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<p>Amid the ongoing market reversal, Brett (BRETT), a meme coin that recently gained massive attention from the crypto community with an impressive price surge, is again poised for a significant upside rally. BRETT, the official mascot of the Base Chain, recently gave a breakout from a bullish price action pattern and has shifted the sentiment to an uptrend.</p>   
<h2 class="wp-block-heading" id="h-brett-technical-analysis-and-upcoming-levels"><strong>BRETT Technical Analysis and Upcoming Levels</strong></h2>   
<p>According to the expert technical analysis, <a href="https://coinpedia.org/price-prediction/brett-based-price-prediction/">BRETT</a> appears bullish after recently breaking out from a descending trendline and a bullish inverted Head-and-Shoulders pattern. Additionally, it has successfully retested the neckline and is now heading in an upward direction.</p>   
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/10/19203948/BRETTUSDT_2024-10-19_20-39-37.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/10/19203948/BRETTUSDT_2024-10-19_20-39-37-1024x448.png" alt="" class="wp-image-369568"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure>   
<p>Based on the price action and BRETT’s daily chart, there is a strong possibility that the meme coin could soar by 40% to reach the $0.15 level in the coming days. Additionally, if the sentiment persists, it could rally another 30% to reach the $0.20 level.</p>   
<p>BRETT’s Relative Strength Index (RSI) suggests a significant upside rally, as its value currently lies in oversold territory.</p>   
<h2 class="wp-block-heading" id="h-brett-s-on-chain-metrics-nbsp"><strong>BRETT’s On-Chain Metrics&nbsp;</strong></h2>   
<p>Despite the bullish technical analysis, BRETT’s <a href="https://www.coinglass.com/currencies/BRETT" target="_blank" rel="noreferrer noopener nofollow">on-chain metrics</a> indicate that traders are currently exiting their positions or their positions were liquidated during the recent price correction. According to the on-chain analytics firm Coinglass, its open interest has dropped by 8% over the past 24 hours.&nbsp;</p>   
<p>As of now, the major liquidation levels are near $1.055 on the lower side and $1.083 on the upper side, with traders over-leveraged at these levels, according to Coinglass data.&nbsp;</p>   
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/10/19204018/image-104-153.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/10/19204018/image-104-153-1024x433.png" alt="" class="wp-image-369569"></a>
 <figcaption class="wp-element-caption">
  Source: Coinglass
 </figcaption>
</figure>   
<p>If the market sentiment remains bullish and the price rises to the $0.1083 level, nearly $91,640 worth of short positions will be liquidated. Conversely, if the sentiment shifts and the price drops to the $1.055 level, approximately $268,850 worth of long positions will be liquidated.</p>   
<p>Combining these on-chain metrics with technical analysis, it appears that bears are currently in control, though BRETT's daily chart still looks bullish. According to the chart, if BRETT holds above the $0.0949 level, the bullish outlook will remain intact; otherwise, it will fail.</p>   
<h3 class="wp-block-heading" id="h-current-price-momentum"><strong>Current Price Momentum</strong></h3>   
<p>Currently, BRETT is trading near $0.1073 and has experienced a price drop of 2.65% over the past 24 hours. During the same period, its trading volume declined by 25%, indicating reduced participation from traders and investors compared to the previous day.</p>

This Meme Coin Set for 40% Rally, Insights from Recent Price Action

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