Due to a lack of interest, this week appears as the most boring period for Brett since it started recovery. However, with multiple interceptions from the bulls’ side, it has managed to stay well above a key price level.
Looking at the early month’s pullback, which came after finishing last month on a strong note, Brett found a solid support level and resurged to a high of $0.091. A rejection occurred, and the buying was immediately followed by a quick sell-off, which lasted for a week.
The $0.064 level later provided support, and the price briefly rebounded, but failed to push above the previous high. It rolled back and closed last week’s trade at around the mentioned level. Since then, it has remained calm, with choppy price actions due to low daily trading volume.
While the last three weeks brought a little reduction in the price, a buy from the current trading level could restore bullish actions in the market. The current monthly high is considered key resistance for a breakup. Failure to break it may subject the trend to more sideways movement.
However, if the price nosedives through the holding support, Brett may slide back to the monthly low before picking up. As of now, the next direction of the market looks dicey due to the latest indecisiveness.
BRETT’s Key Level To Watch
Breaking lower, the $0.054 and $0.046 supports are the next levels to watch for a rebound. There’s support at $0.037 in case of more dips.
An increase from the current trading level should bring us back to the monthly $0.091 resistance with a potential break to the $124 level. The resistance to watch above this level is $0.159 – the current yearly high.
Key Resistance Levels: $0.091, $0.124, $0.159
Key Support Levels: $0.064, $0.054, $0.046
- Spot Price: $0.068
- Trend: Bullish
- Volatility: Low
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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